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Wed 31 Jan 2018 09:03

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.

Fuel Oil Market (January 30)

The front crack opened at -11.30, strengthening to -11.05, before weakening to -11.10. The Cal 19 was valued at -17.00.

Asia's fuel oil markets were relatively muted for a second day this week with buyers remaining on the sidelines as they took stock of near-term supplies and anticipated further weakness in crude oil prices

Some industry sources pointed to steady inflows of prompt arbitrage supplies into Singapore and Asia, keeping supply levels ample.

Oil prices fell on Tuesday for a second day as rising U.S. output and a strengthening dollar sapped demand for crude, pushing Brent below $69 a barrel for the first time in six days.

Economic Data and Events

* 12pm: MBA Mortgage Applications, Jan. 26

* 1:15pm: U.S. ADP Employment Change, Jan.

* 2:45pm: Chicago Purchasing Manager, Jan.

* 3pm: U.S. Pending Home Sales

* 3:30pm: EIA weekly oil inventory report

* 7pm: U.S. Federal Reserve Open Market Committee interest rate decision

* Today, no exact timing:

** Genscape weekly ARA crude stockpiles report

** Petroleum Economist Energy Strategy Forum in Kuwait City, with speakers including Kuwait Oil Minister, among others

** Energy Mexico conference, Mexico City, 2nd day of 3

** Primorsk diesel loading program for February

** EIA releases Petroleum Supply Monthly

*** Monthly Crude Oil and Natural Gas Production report at 12pm

*** All other reports 2pm

Singapore 380 cSt

Feb18 - 377.25 / 379.25

Mar18 - 377.00 / 379.00

Apr18 - 376.75 / 378.75

May18 - 376.25 / 378.25

Jun18 - 375.50 / 377.50

Jul18 - 374.00 / 376.00

Q2-18 - 376.25 / 378.25

Q3-18 - 372.50 / 374.50

Q4-18 - 366.50 / 369.00

Q1-19 - 356.75 / 359.25

CAL19 - 309.00 / 312.00

CAL20 - 240.50 / 245.50

Singapore 180 cSt

Feb18 - 383.25 / 385.25

Mar18 - 382.50 / 384.50

Apr18 - 382.75 / 384.75

May18 - 382.50 / 384.50

Jun18 - 381.75 / 383.75

Jul18 - 380.25 / 382.25

Q2-18 - 382.50 / 384.50

Q3-18 - 378.75 / 380.75

Q4-18 - 373.00 / 375.50

Q1-19 - 363.75 / 366.25

CAL19 - 317.00 / 320.00

CAL20 - 251.00 / 256.00

Rotterdam Barges

Feb18 362.25 / 364.25

Mar18 363.75 / 365.75

Apr18 363.50 / 365.50

May18 362.50 / 364.50

Jun18 361.50 / 363.50

Jul18 359.75 / 361.75

Q2-18 362.50 / 364.50

Q3-18 357.50 / 359.50

Q4-18 347.25 / 349.75

Q1-19 337.00 / 339.50

CAL19 288.00 / 291.00

CAL20 225.00 / 230.00

Naming ceremony of Wilhelmshaven Express. Hapag-Lloyd completes newbuild programme with delivery of dual-fuel vessel  

German carrier christens Wilhelmshaven Express, marking completion of 12-vessel Hamburg Express class series.
Adani Ports and BPCL sign MoU. MoU signed for India's first LNG bunkering facility at Vizhinjam  

Partnership aims to establish LNG refuelling hub for international vessels at Kerala.
BSM Methanol Firefighting Course training session. BSM launches methanol training courses for seafarers  

Shipmanager introduces specialised programmes amid absence of international standards for methanol-powered vessels.
Everllence S90 methanol dual-fuel engine. Everllence completes world's first S90 methanol engine retrofit on Cosco ship  

Cosco Shipping Libra undergoes dual-fuel conversion, opening pathway for further large-bore retrofits.
RCL vessel Piya Bhum. RCL completes maiden biofuel voyage with B24-VLSFO blend  

Thai container line uses biofuel blend on vessel sailing from Laem Chabang to Ho Chi Minh City.
ABS and KRISO sign MoU. ABS partners with KRISO to develop small modular reactors for marine applications  

Classification society and Korean research institute sign MoU to advance nuclear technology for ships and offshore platforms.
Rolls-Royce first pure methanol marine engine. Rolls-Royce tests first pure methanol marine engine in world first  

Facility test marks development step for methanol marine fuel technology.
OTTCO and Royal Vopak sign strategic partnership agreement. Ottco and Vopak form joint venture for Duqm energy storage terminal  

Partnership will develop storage infrastructure at Oman's Special Economic Zone at Duqm (SEZAD).
China Sustainable Shipping Fuel Development Report 2025. China Classification Society releases sustainable marine fuel report  

Report examines global trends in green hydrogen, methanol, ammonia, and biofuels for maritime decarbonisation.
Steel cutting ceremony for Avenir LNG’s next 20,000 cbm LNG bunkering vessel. Avenir LNG begins construction of second 20,000 cbm bunkering vessel in China  

Steel cutting ceremony marks start of construction for Hull S1124 at Nantong CIMC facility.




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