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


Shore power illustration. Portsmouth port publishes white paper on UK’s first multi-berth shore power system  

UK port shares lessons from five-year project in bid to spur nationwide uptake of the technology.

IMO Technical Seminar on the use of ammonia as marine fuel. IMO seminar examines technical hurdles facing ammonia as a marine fuel  

Technical seminar under the Future Fuels and Technology Project attracts over 800 participants.

Wind-assisted vessel illustration. ICS to host webinar on wind-assisted propulsion for shipping  

Event to bring together panel of industry experts to discuss wind propulsion as a decarbonisation option.

Mike Sellers, Christophe Mathieu and Steve Pitt. Portsmouth switches on UK’s first multi-berth shore power system  

ABB technology enables Portsmouth to offer high-voltage shore power across three berths simultaneously.

H2SITE logo. H2SITE lands €3.4m in Norwegian funding to scale up onboard ammonia-to-power system  

Enova backing will support the development of a 700 kW ammonia-cracking system for commercial maritime auxiliary-power applications.

VPS Carbon Reduction seminar in Hamburg graphic. VPS to host Hamburg seminar on fuel quality and decarbonisation  

European Round Table Meeting will address marine fuel strategy, lubricants and the multi-fuel transition.

Sadie Ann vessel. Battery-hybrid vessel enters service as a floating classroom for research students  

Hybrid research vessel Sadie Ann delivered for Lake Superior education programme.

Olivier Josse, Peter Grunwaldt and Gaetan Perret, Seascale Energy. Gaetan Perret to succeed Olivier Josse as Seascale Energy co-CEO  

Josse will step down after 36 years, with Gaetan Perret set to become co-CEO in December.

Anne Mai Hatlem and Prof Lynn Loo. GCMD and Equinor sign five-year partnership on alternative fuels and carbon storage  

Singapore-based centre and Norwegian energy company to combine expertise in maritime pilots and low-carbon fuel supply.

Petrobras logo. Petrobras suspends bunker deliveries at Rio Grande after tropical storm  

Storm damage and power outage leave resumption timeline unclear.