Fri 29 Dec 2017, 09:03 GMT

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.



Commentary

Early trading windows today. Singapore was at 4 am UK time and barges at 12. Brent is now comfortably up above $66 - I'm sure putting a grin on many an OPEC member. U.S. stocks fell again yesterday, further indicating that OPEC's strategy of sitting on their hands and allowing the market to do its job for it is somewhat working. All they need to do is convince the U.S. not to increase production too much, to come to an agreement and they have a winning formula.

Fuel Oil Market (December 28)

The front crack opened at -8.50, weakening to -8.60 across the day. The Cal 18 was valued at -8.10.

Singapore 380 cSt

Jan18 - 375.00 / 377.00

Feb18 - 374.00 / 376.00

Mar18 - 373.75 / 375.75

Apr18 - 373.25 / 375.25

May18 - 372.75 / 374.75

Jun18 - 371.75 / 373.75

Q1-18 - 374.25 / 376.25

Q2-18 - 372.50 / 374.50

Q3-18 - 368.50 / 371.00

Q4-18 - 363.75 / 366.25

CAL18 - 369.25 / 372.25

CAL19 - 330.25 / 335.25

Singapore 180 cSt

Jan18 - 378.75 / 380.75

Feb18 - 378.25 / 380.25

Mar18 - 378.25 / 380.25

Apr18 - 378.00 / 380.00

May18 - 377.75 / 379.75

Jun18 - 377.00 / 379.00

Q1-18 - 378.50 / 380.50

Q2-18 - 377.75 / 379.75

Q3-18 - 374.25 / 376.75

Q4-18 - 369.75 / 372.25

CAL18 - 374.75 / 377.75

CAL19 - 339.00 / 344.00

Rotterdam Barges

Jan18 360.75 / 362.75

Feb18 360.25 / 362.25

Mar18 360.00 / 362.00

Apr18 359.75 / 361.75

May18 359.00 / 361.00

Jun18 358.00 / 360.00

Q1-18 360.25 / 362.25

Q2-18 359.00 / 361.00

Q3-18 354.25 / 356.75

Q4-18 345.50 / 348.00

CAL18 353.75 / 356.75

CAL19 312.75 / 317.75


Verde Marine Energy (VME) logo. Verde Marine Energy completes its first B100 biofuel bunkering in ARA region  

Supplier delivers B100 advanced FAME to Vertom vessel.

CMA CGM Notre Dame vessel. Bureau Veritas classes CMA CGM’s first 24,000-teu LNG dual-fuel mega boxship built by Yangzi Xinfu  

BV highlights work carried out during design, construction and commissioning of new new ultra-large container vessel.

ECSA and A4E logo. Shipping and aviation bodies urge EU to redirect ETS revenues into sustainable fuels  

ECSA and A4E say more than €11bn in annual ETS contributions must fund decarbonisation efforts.

Scotland flag. Bunker One deploys supply barge at Aberdeen South Harbour ahead of July launch  

Marine fuel supplier targets Aberdeen’s growing maritime sector with dedicated barge.

Steel cutting ceremony of vessel with builder's hull no. H2840. Jiangnan Shipyard breaks ground on LPG-fuelled ammonia carrier for Jaldhi Overseas  

Constructions starts on 95,000-cbm vessel set to be world’s largest liquid ammonia carrier.

Mineral Latvija vessel. Fortescue and CMB.Tech sign charter deal for up to 12 ammonia-capable bulkers  

The agreement covers 12 Newcastlemax vessels, with three to be delivered as dual-fuel ammonia ships by end-2026.

Federal Beaufort vessel. Verra publishes new carbon methodology for alternative fuels in shipping  

VM0053 framework offers an accounting structure for emissions reductions in maritime transport.

NYK LNG-powered vessel connected to shore power. ICO launches Belgium’s first commercial shore power facility for ro-ro vessels at Zeebrugge  

NYK Group subsidiary connects pure car and truck carrier to green shore power at Belgian port.

Ocean Express ship-to-ship (STS) LNG bunkering operation. Dan-Bunkering completes LNG supply in China for Sallaum Lines’ newbuild PCTC  

Bunker firm delivers approximately 1,400 tonnes of LNG to Sallaum Lines’ newbuild car carrier in China.

Seaspan Lions (STS) LNG bunkering operation. Low-GHG methane could keep LNG-capable fleet compliant as regulations tighten, DNV paper argues  

Biomethane and e-methane offer a compliance pathway for LNG-capable ships, says DNV.