- News
- Insights
- Bunkerworld
- Taiwan Formosa likely to skip LSFO exports for Jul loading on run cut
.
-
May 16
-
May 10
-
Apr 28
-
Apr 27
-
Apr 12
-
Mar 31
-
Mar 25
-
Mar 21
-
Mar 18
-
Mar 17
-
Mar 16
-
Mar 11
-
Mar 2
-
Mar 1
-
Feb 23
-
Feb 22
-
Feb 3
-
Jan 25
-
Dec 29
-
Dec 13
-
Dec 6
-
Nov 26
-
Nov 19
-
Nov 17
-
Nov 11
-
Nov 5
-
Fujairah bunker sales seen hitting 2021 high in October as buyers got used to higher crude oil costsNov 1
-
Oct 26
-
Oct 13
-
Oct 5
-
Sep 27
-
Sep 21
-
Sep 14
-
Sep 3
-
Aug 31
-
Aug 26
-
Aug 24
-
Aug 18
-
Aug 10
-
Aug 4
-
Jul 30
-
Jul 27
-
Jul 23
-
Jul 13
-
Jul 8
-
Jul 7
-
Jun 29
-
Jun 24
-
Jun 22
-
Jun 21
-
Jun 15
-
Jun 8
-
Jun 1
-
May 26
-
May 18
-
May 14
-
May 12
-
May 4
-
Apr 12
-
Apr 1
-
Mar 26
-
Mar 10
-
Mar 1
-
Feb 4
-
Jan 29
-
Jan 5
-
Dec 30
-
Dec 22
-
Dec 9
-
Dec 7
-
Dec 2
-
Dec 1
-
Oct 30
-
Oct 9
-
Oct 7
-
Sep 11
-
Sep 4
-
Aug 24
-
Aug 17
-
Aug 10
-
Jul 22
-
Jul 14
-
Jul 7
-
Jul 2
-
Jun 22
-
Jun 11
-
May 27
-
May 11
-
May 4
-
May 1
Taiwan's Formosa Petrochemical is likely to skip exports of low sulfur fuel oil for July loading due to run cuts, a company source said June 18.
Formosa Petrochemical is operating its three crude distillation units at the 540,000 b/d Mailiao refinery at an average utilization rate of 440,000 b/d or around 80% of capacity in June, as refined oil product margins remain weak, S&P Global Platts reported earlier.
The refiner typically sells one to three MR-sized cargoes of low sulfur fuel oil cargoes with maximum 0.5% sulfur a month and is one of the major LSFO suppliers in Asia.
In addition to the run cut, the refiner is also looking to shift to gasoline production due to improving gasoline margins.
"We will hold DSAR [desulfurized atmospheric residue] for RFCC feedstock" rather than blending it into low sulfur fuel oil," the source said. "LSFO margins are not good, gasoline is better," the source added.
Formosa might also sell other fuel oil blending stocks such as pyrolysis fuel oil for July loading, but the details have not been fixed, the source said.
Gasoline crack spreads spiked in mid-morning trade in Asia June 18 after the release of data overnight reporting a drawdown in US gasoline inventories outweighed growing concerns of a second wave of coronavirus infections.
The front month July FOB Singapore 92 RON gasoline crack against Brent swap in particular looked poised to see a third consecutive day of double-digit growth - it was pegged by brokers at least 10% higher at 0230 GMT than at the June 17 close, at plus $4.15-$4.25/b.
On the other hand, the Singapore Marine Fuel 0.5%S market remains sluggish due to high inventories and poor demand amid a slowdown in maritime transportation as the coronavirus pandemic hampers international trade, fuel oil traders said.
Bunkerworld ,