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Tue 13 Feb 2018 09:11

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.

Commentary

Brent closed down 0.20 last night to $62.59, WTI closed at $59.29, up 0.09. In oil you have the emergence of the U.S. which is now included in every single oil commentary, having become a factor the market cannot ignore any longer. The established OPEC order is changing as the old heads we have known so long are getting superseded. Another Monday and another statement from OPEC that they see demand increasing this year. I can only assume that guy I told you about who trades flat price in his undies from home fell asleep with his finger on the LIFT button at this mundane statement.

Fuel Oil Market (February 12)

The front crack opened at -10.20, strengthening to -9.60, before weakening to -9.65. The Cal 19 was valued at -14.50.

Asia's fuel oil market held steady on Monday amid limited trade activity in the physical and paper markets

Economic Data and Events

* 9am: IEA Monthly Oil Market report

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

* Egypt Petroleum Show in Cairo, 2nd day of 3

* World Government Summit, Dubai, final day

* Bloomberg-compiled Refinery Snapshot for U.S. and Canada; gives offline capacity projections for crude units and FCCs

Singapore 380 cSt

Mar18 - 350.50 / 352.50

Apr18 - 350.50 / 352.50

May18 - 350.25 / 352.25

Jun18 - 349.75 / 351.75

Jul18 - 348.50 / 350.50

Aug18 - 347.25 / 349.25

Q2-18 - 350.00 / 352.00

Q3-18 - 347.75 / 349.75

Q4-18 - 343.00 / 345.50

Q1-19 - 335.00 / 337.50

CAL19 - 300.50 / 303.50

CAL20 - 227.75 / 232.75

Singapore 180 cSt

Mar18 - 356.75 / 358.75

Apr18 - 356.50 / 358.50

May18 - 356.50 / 358.50

Jun18 - 355.75 / 357.75

Jul18 - 354.75 / 356.75

Aug18 - 353.50 / 355.50

Q2-18 - 356.25 / 358.25

Q3-18 - 354.00 / 356.00

Q4-18 - 349.75 / 352.25

Q1-19 - 343.25 / 345.75

CAL19 - 309.50 / 312.50

CAL20 - 238.50 / 243.50

Rotterdam Barges

Mar18 337.00 / 339.00

Apr18 337.25 / 339.25

May18 336.50 / 338.50

Jun18 335.75 / 337.75

Jul18 334.50 / 336.50

Aug18 332.75 / 334.75

Q2-18 336.50 / 338.50

Q3-18 332.50 / 334.50

Q4-18 324.00 / 326.50

Q1-19 315.50 / 318.00

CAL19 277.75 / 280.75

CAL20 214.75 / 219.75

Marius Kairys, CEO of Elenger Sp. z o.o. Elenger enters Polish LNG bunkering market with ferry refuelling operation  

Baltic energy firm completes maiden truck-to-ship LNG delivery in Gdansk.
Samsung Heavy Industries (SHI) virtual reality (VR) training program developed in collaboration with Evergreen. SHI develops VR training solutions for Evergreen's methanol-fuelled ships  

Shipbuilder creates virtual reality program for 16,500 TEU boxship operations.
Illustratic image of Itochu's newbuild ammonia bunkering vessel, scheduled for delivery in September 2027. Itochu orders 5,000 cbm ammonia bunker vessel  

Japanese firm targets Singapore demonstration after October 2027, with Zeta Bunkering lined up to perform deliveries.
Bunkering of the Glovis Selene car carrier. Shell completes first LNG bunkering operation with Hyundai Glovis in Singapore  

Energy major supplies fuel to South Korean logistics firm's dual-fuel vessel.
Orient Overseas Container Line (OOCL) vessel. CPN delivers first B30 marine gasoil to OOCL in Hong Kong  

Chimbusco Pan Nation claims to be first in region to supply all grades of ISCC-EU certified marine biofuel.
The Buffalo 404 barge, owned by Buffalo Marine Service Inc., performing a bunker delivery. TFG Marine installs first ISO-certified mass flow meter on US Gulf bunker barge  

Installation marks expansion of company's digitalisation programme across global fleet.
Sogestran's fuel supply vessel, the Anatife, at the port of Belle-Île-en-Mer. Sogestran's HVO-powered tanker achieves 78% CO2 reduction on French island fuel runs  

Small tanker Anatife saves fuel while supplying Belle-Île and Île d'Yeu.
Crowley 1,400 TEU LNG-powered containership, Tiscapa. Crowley deploys LNG-powered boxship Tiscapa for Caribbean and Central American routes  

Vessel is the third in company's Avance Class fleet to enter service.
The inland LNG bunker vessel LNG London. LNG London completes 1,000 bunkering operations in Rotterdam and Antwerp  

Delivery vessel reaches milestone after five years of operations across ARA hub.
The M.V. COSCO Shipping Yangpu, China's first methanol dual-fuel containership. COSCO vessel completes maiden green methanol bunkering at Yangpu  

China's first methanol dual-fuel containership refuels with green methanol derived from urban waste.

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