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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

Factory Acceptance Testing (FAT) for X52DF-A-1.0 engine. WinGD completes factory testing of ammonia-fuelled engine for LPG carrier  

X52DF-A-1.0 engine tested in China ahead of installation on first of four vessels under construction.
Drift Energy energy-harvesting ship render. RINA awards first approval in principle for energy-harvesting ship  

Drift Energy receives certification for vessel design that generates clean energy at sea.
MSC World Europa vessel. MSC Cruises achieves flag state recognition for verified methane emissions data  

Bureau Veritas certifies actual methane slip values for two LNG-fuelled cruise ships.
IBIA and EENMA MoU signing. IBIA and Greek shortsea shipowners sign cooperation agreement  

The International Bunker Industry Association partners with EENMA to support the marine fuels sector.
Hapag-Lloyd and Scan Global Logistics logos. Scan Global Logistics and Hapag-Lloyd expand biofuel partnership to cut shipping emissions  

Collaboration claims to avoid 8,500 tonnes of CO₂e emissions through second-generation biofuels.
Lapis Ace ship-to-ship LNG bunkering operation. MOL signs first annual LNG bunkering contract for car carriers in Vancouver  

Japanese shipping company secures year-round fuel supply with Seaspan Energy at Canadian port.
Gasum's LNG bunkering vessel Coralius. Gasum’s maritime bio-LNG sales surge from 0.8% to 12.3% in 2025  

Nordic energy company attributes growth to FuelEU Maritime regulation introduced in 2025.
Port Authority of Valencia board meeting. Valenciaport gives LNG bunkering go-ahead to Shell and Axpo Iberia  

Port authority approves two LNG bunkering authorisations as part of its decarbonisation strategy.
Northern Purpose naming ceremony. BSM enters LCO₂ carrier segment with management of dual-fuel Northern Purpose  

Bernhard Schulte Shipmanagement takes over first liquefied carbon dioxide carrier for Northern Lights project.
Anna Cosulich vessel. Fratelli Cosulich takes delivery of methanol-ready bunker tanker Anna Cosulich  

Vessel built in China will head to Singapore to support group's bunkering operations.




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