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Fri 15 Jun 2018, 09:17 GMT

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.

Fuel Oil Market (June 14)

Crack closed pretty much where it opened today at -10.55. Official data showed Fujairah fuel oil stocks climbed to a 2018 high of 9.759 million barrels (about 1.457 million tonnes) in the week to June 11. Also, potentially weaker demand from Pakistan may have weighed on the fuel oil crack amid signs that its state-owned oil company, PSO, might not award a tender to import up to 195,000 tonnes of fuel oil due for delivery in the last decade of June as a result of lower utility demand there, trade sources said. Supplier offers for the PSO tender remain valid to June 15.

Economic data/events (Times are London.)

* 1:30pm: U.S. Empire Manufacturing for June

* 2:15pm: U.S. Industrial Production m/m for May

* 3pm: University of Michigan Consumer Sentiment for June P

* 6pm: Baker Hughes rig count

* ~6:30pm: ICE weekly commitments of traders report for Brent, gasoil

* CFTC weekly commitments of traders report on various U.S. futures and options contracts

* Energy ministers from G-20 nations, including Russia, Mexico, U.S. and Saudi Arabia, hold their annual meeting in Bariloche, Argentina

Singapore 380 cSt

Jul18 - 427.75 / 429.75

Aug18 - 423.75 / 425.75

Sep18 - 419.75 / 421.75

Oct18 - 415.75 / 417.75

Nov18 - 412.25 / 414.25

Dec18 - 409.00 / 411.00

Q3-18 - 423.75 / 425.75

Q4-18 - 412.50 / 414.50

Q1-19 - 402.25 / 404.75

Q2-19 - 392.25 / 394.75

CAL19 - 367.75 / 370.75

CAL20 - 292.75 / 297.75

Singapore 180 cSt

Jul18 - 438.25 / 440.25

Aug18 - 434.75 / 436.75

Sep18 - 430.50 / 432.50

Oct18 - 426.75 / 428.75

Nov18 - 423.50 / 425.50

Dec18 - 420.50 / 422.50

Q3-18 - 434.50 / 436.50

Q4-18 - 423.75 / 425.75

Q1-19 - 414.00 / 416.50

Q2-19 - 404.00 / 406.50

CAL19 - 382.25 / 385.25

CAL20 - 316.25 / 321.25

Rotterdam 3.5%

Jul18 - 411.25 / 413.25

Aug18 - 407.50 / 409.50

Sep18 - 403.25 / 405.25

Oct18 - 399.00 / 401.00

Nov18 - 394.75 / 396.75

Dec18 - 390.75 / 392.75

Q3-18 - 407.50 / 409.50

Q4-18 - 395.25 / 397.25

Q1-19 - 385.00 / 387.50

Q2-19 - 372.50 / 375.00

CAL19 - 346.00 / 349.00

CAL20 - 278.00 / 283.00

MCE Marine Surveyors logo. MCE Marine Surveyors seeks bunker surveyor in Rotterdam amid growing demand  

Liquid bulk surveyor certificate listed as a preference, as is prior experience in a bunker surveyor role.
Athinagoras vessel. LNG dual-fuel tanker delivered to Capital Ship Management  

Vessel one of two handed over to Greek operators on the same day.
Auramarine quality specialist hiring announcement. Auramarine seeks quality specialist to unify European and Asian management systems  

Finnish fuel supply system maker is recruiting a quality specialist to harmonise its global operations.
Nave Orbit vessel. Navios Maritime Partners takes delivery of LNG- and methanol-ready Aframax tanker  

117,012-dwt Nave Orbit features alternative-fuel readiness and energy-efficiency technology.
PetroChina Petroineos Trading logo. PetroChina International seeks bunker sales manager to drive European growth  

Chinese state-owned energy trader targets ARA expansion with new commercial hire.
CF Anja vessel. Damen delivers HVO-ready CF 3850 to Lithuania’s Juru Agentura Forsa  

CF Anja marks the first newbuild vessel in Forsa’s dry cargo fleet.
Marine Transshipment Terminal. Orlen opens marine transshipment terminal in Gdansk  

Polish refiner's new quay facility can handle up to two million tonnes of products annually.
Uni-Fuels Logo. Uni-Fuels appoints general manager for new Houston operation  

Experienced professional Robert Love aiming to expand the company’s presence in the United States.
Two people shaking hands with 'Join our team' text overlay. Sing Fuels hiring junior supply trader for Singapore operations  

Role aimed at candidates with one to two years of experience in marine fuels or the wider maritime industry.
Simaisma vessel. Exmar takes delivery of LNG carrier to serve the bunkering market  

Vessel to be convered into a floating transshipment unit for specialised LNG bunkering vessels to load fuel.




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