Thu 20 Aug 2009 11:08

Middle East refiner sells 380-cst cargo


80,000-tonne parcel is expected to remain within the region to service Middle East demand.

Saudi Arabian refiner Saudi Aramco has sold an 80,000-tonne cargo of 380-cst fuel oil for lifting from Jubail in September, according to industry sources.

The fuel oil cargo is reported to have been sold to Vitol at a premium of $1-$2 per tonne to Singapore spot quotes, on a free-on-board (FOB) basis.

The deal price is higher than a discount of approximately $4 per tonne Vitol paid for a similar-sized cargo loading tomorrow.

Previously, oil major BP purchased a cargo for lifting on August 9th at a small discount to Singapore spot quotes, FOB.

Shell is said to have paid around $4.50 per tonne to Singapore spot quotes, FOB, for a parcel that loaded on July 27th.

According to market sources, Saudi Aramco's cargo is expected to remain in the Middle East region as demand continues to hold firm mainly due to peak demand during the summer season. Power generation requirements in East Africa are have also been drawing product away from the Middle East.
A screenshot taken from Peninsula's homepage on October 4, 2024. Peninsula to receive first of four tankers in Q2 2025  

Methanol-ready vessels form part of bunker supplier's fleet renewal programme.
Stephen Robinson, pictured on his appointment as Head of Bunker Strategy and Procurement at Tankers International. Stephen Robinson heads up bunker desk at Tankers International  

Former Bomin and Cockett MD appointed Head of Bunker Strategy and Procurement.
Chart showing percentage of off-spec and on-spec samples by fuel type, according to VPS. Is your vessel fully protected from the dangers of poor-quality fuel? | Steve Bee, VPS  

Commercial Director highlights issues linked to purchasing fuel and testing quality against old marine fuel standards.
Ships at the Tecon container terminal at the Port of Suape, Brazil. GDE Marine targets Suape LSMGO by year-end  

Expansion plan revealed following '100% incident-free' first month of VLSFO deliveries.
Hercules Tanker Management and Hyundai Mipo Dockyard sign bunker vessel agreement Peninsula CEO seals deal to build LNG bunker vessel  

Agreement signed through shipping company Hercules Tanker Management.
Illustration of Kotug tugboat and the logos of Auramarine and Sanmar Shipyards. Auramarine supply system chosen for landmark methanol-fuelled tugs  

Vessels to enter into service in mid-2025.
A Maersk vessel, pictured from above. Rise in bunker costs hurts Maersk profit  

Shipper blames reroutings via Cape of Good Hope and fuel price increase.
Claus Bulch Klausen, CEO of Dan-Bunkering. Dan-Bunkering posts profit rise in 2023-24  

EBT climbs to $46.8m, whilst revenue dips from previous year's all-time high.
Chart showing percentage of fuel samples by ISO 8217 version, according to VPS. ISO 8217:2024 'a major step forward' | Steve Bee, VPS  

Revision of international marine fuel standard has addressed a number of the requirements associated with newer fuels, says Group Commercial Director.
Carsten Ladekjær, CEO of Glander International Bunkering. EBT down 45.8% for Glander International Bunkering  

CFO lauds 'resilience' as firm highlights decarbonization achievements over past year.

↑  Back to Top


 Related Links