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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

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Finnish firm will explore ammonia’s role in maritime decarbonisation at its third spring webinar.
Front cover of study by WinGD and Envision Energy titled 'Renewable Fuel Economics: An OPEX illustration based on current costs'. Green ammonia could reach cost parity with VLSFO and LNG by 2050, study finds  

WinGD and Envision Energy study projects green ammonia operational costs competitive with conventional marine fuels.
Elenger Marine's LNG bunkering vessel Optimus alongside Brittany Ferries’ Saint-Malo. Bureau Veritas verifies methane emissions on Brittany Ferries’ LNG vessels  

Verification enables ferry operator to report measured methane slip instead of regulatory default values.
Map showing existing and planned Emission Control Areas (ECAs). Alliance calls for urgent black carbon action as new Arctic emission control areas take effect  

Canadian Arctic and Norwegian Sea ECAs now in force, with compliance deadline set for March 2027.
Artistic impression of battery-electric ferry for operation on Perth’s Swan River. Lloyd’s Register to class Western Australia’s first electric ferry fleet  

Echo Marine Group partners with Lloyd’s Register on five battery-electric ferries for Perth’s Swan River.
Thomas Kazakos, secretary general of The International Chamber of Shipping (ICS). ICS condemns Middle East shipping attacks as 20,000 seafarers remain trapped  

Industry body calls for urgent state action to resupply vessels and enable crew changes.
Molslinjen ferry illustration. Molslinjen order propels Australia to top of battery vessel production rankings  

Danish ferry operator’s three-catamaran order at Incat Tasmania shifts global manufacturing landscape, analysis shows.
Petrobras logo. Petrobras doubles invoiced price of MGO and LSMGO  

Export tax by Brazil's federal government forces Petrobras to double distillate invoice values.
Bunkering of Viking Line's Viking Glory by a Gasum vessel in Turku, Finland. Gasum renews FuelEU Maritime pooling partnerships with Viking Line and Wallenius SOL  

Nordic energy company extends compliance pooling arrangements with two shipping companies operating bio-LNG vessels.
Naming ceremony for CMA CGM Carmen on 18 March 2026. CMA CGM names methanol-powered container ship CMA CGM Carmen  

French shipping line christens 15,000-teu vessel as part of its alternative fuel fleet expansion.




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