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Tue 19 Dec 2017, 08:58 GMT

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.

Fuel Oil Market (December 18)

The front crack opened at -8.85, strengthening to -8.65 across the day. The Cal 18 was valued at -8.25.

Cash premiums of Asia's 180 cSt high sulphur fuel oil jumped to a near three-month high on Monday, boosted by stronger buying interest and elevated deal values for the lower viscosity oil, trade sources said.

South Korean refiner GS Caltex Corp has bought a rare cargo of Cold Lake crude, the company's first purchase in more than two decades of this Canadian oil grade, a company spokesman said on Monday.

The second-largest refiner in South Korea bought 300,000 barrels of the heavy sour crude for delivery in the second half of February, he said.

The refiner is trying out a small volume of the oil, which has a quality similar to that of Iraq's Basra Heavy crude, a person familiar with the matter said.

Economic Data/Events: (UK times)

* 1:30pm U.S. Nov. housing starts, est. 1,250k (prior 1,290k)

* 1:30pm U.S. 3Q current account balance, est. -$116.2b (prior - $123.1b)

* 9:30pm API issues weekly U.S. oil inventory report

* Bloomberg-compiled refinery snapshot, looking at key outages at refineries in U.S., Canada and providing offline capacity projections for crude units and FCCs

Singapore 380 cSt

Jan18 - 362.50 / 364.50

Feb18 - 361.75 / 363.75

Mar18 - 361.75 / 363.75

Apr18 - 361.50 / 363.50

May18 - 361.25 / 363.25

Jun18 - 360.25 / 362.25

Q1-18 - 362.00 / 364.00

Q2-18 - 360.00 / 362.00

Q3-18 - 355.75 / 358.25

Q4-18 - 350.50 / 353.00

CAL18 - 355.50 / 358.50

CAL19 - 322.25 / 327.25

Singapore 180 cSt

Jan18 - 366.75 / 368.75

Feb18 - 366.50 / 368.50

Mar18 - 366.75 / 368.75

Apr18 - 366.75 / 368.75

May18 - 366.50 / 368.50

Jun18 - 365.75 / 367.75

Q1-18 - 366.75 / 368.75

Q2-18 - 365.25 / 367.25

Q3-18 - 361.75 / 364.25

Q4-18 - 356.75 / 359.25

CAL18 - 361.25 / 364.25

CAL19 - 331.25 / 336.25

Rotterdam 380 cSt

Jan18 346.50 / 348.50

Feb18 346.50 / 348.50

Mar18 346.50 / 348.50

Apr18 345.75 / 347.75

May18 344.75 / 346.75

Jun18 343.50 / 345.50

Q1-18 346.50 / 348.50

Q2-18 345.00 / 347.00

Q3-18 340.00 / 342.50

Q4-18 331.00 / 333.50

CAL18 339.75 / 342.75

CAL19 298.75 / 303.75

Flex Commodities office in Dubai. Flex Commodities moves Dubai head office to Jumeirah Lakes Towers  

UAE-based firm relocates to waterfront community popular amongst bunker companies.
Echandia Core marine battery system. Echandia: Batteries offer fuel savings by optimising generator loads on large vessels  

Marine batteries could cut auxiliary generator fuel consumption by up to 15%, according to technology firm.
Palermo LNG facility. Amazónica LNG joins SEA-LNG, extending the coalition’s reach into Latin America  

Colombian LNG terminal operator becomes first South American member of the multi-sector industry group.
Launching ceremony of Priority. Hong Lam Marine launches first of four newbuild bunkering vessels  

First ship in the series, Priority, is launched in Jiangmen, China.
CMA CGM Osmium ship-to-ship (STS) bunkering operation. CMA CGM completes world’s largest single-batch biomethanol bunkering at Shanghai  

8,016-tonne operation said to be enough to fuel an entire transoceanic voyage.
ClassNK logo. ClassNK revises alternative fuels guidelines to address hydrogen, methanol and ethanol safety requirements  

Updated guidelines incorporate IMO hydrogen rules and new structural standards for alcohol fuel tanks.
CMA CGM containership. MacGregor wins cargo handling contract for six LNG-powered boxships at Cochin Shipyard  

CMA CGM container vessels are scheduled for delivery between 2029 and 2031.
KRATT vessel. Estonia launches biomethane-battery workboat for state fleet  

38-metre KRATT is said to be the first vessel of its kind in the region.
YM Willpower bunkering operation via SIMOPS. Yang Ming completes first LNG SIMOPS bunkering for YM Willpower in Shanghai  

Dual-fuel boxship receives 2,000 tonnes of LNG during simultaneous cargo operations.
Chris Kruger, AYK Energy. AYK Energy and Gebhard Electro secure two vessel electrification contracts  

A new dredger and a patrol vessel retrofit form the latest battery projects for the duo.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG / LBM / LBG Biofuel Biogas Biomethanol CBM Dual-fuel E-fuel E-methane / e-NG E-methanol Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind



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