Bunkerworld Insights

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Insights

BUNKERWORLD INDEX: Prices firm but choppy waters ahead from crude, regional markets

Jun 18, 2021

Platts Bunkerworld .

**Singapore on track to supply 900,000 mt of 3.5%S FO in June **European markets likely to remain well supplied **Tight supply, weak demand seen in Latin America
FEATURE: Singapore bunker market volumes remain resilient despite hurdles

Jun 17, 2021

Platts

**Steady stream of inquiries' in June **Barging spreads under some pressure
Commodity traders eye growing oil, gas asset opportunities but rising ESG scrutiny

Jun 16, 2021

Platts

**Oil majors are accelerating asset sales in pivot to clean energy **Gunvor flags rising pressure from lenders over ESG metrics
Peninsula renews credit facility amid increasing financial scrutiny of bunker sector

Jun 15, 2021

Bunkerworld

**Recent credit events in bunker sector **Decarbonization may present further credit challenges
BUNKERWORLD INDEX: Prices waver amid mixed market dynamics and crude bearishness

Jun 11, 2021

Platts Bunkerworld .

**Tightening of 3.5%S FO at Fujairah **Supply overhang in the Mediterranean **Congestion leads to limited prompt availability at Montreal
Shell to step up climate effort but still provide oil and gas, appeal Dutch ruling: CEO

Jun 10, 2021

Platts

Ben van Beurden said he felt Shell was unfairly singled out by the May 26 ruling of a district court in the Hague
Container shipping grapples with China ports operational delays

Jun 9, 2021

Platts

**Yantian, Shekou, Nansha ports face disruptions **Maersk, Hapag Lloyd, MSC ships omitting Yantian port
SHIPPING: Carbon tax proposals ahead of IMO meeting make owners jittery

Jun 8, 2021

Bunkerworld

**Maersk CEO's tax proposal fails to cut much ice **Concerns over green fuels' supply
China independent refineries rush to buy straight-run fuel oil as crude quotas to fall short

Jun 7, 2021

Platts Bunkerworld .

**Four refineries take cargoes for Jun/Jul delivery **Using fuel oil lifts cost by $31/mt
BUNKERWORLD INDEX: Prices climb as firming crude sets trajectory amid varying regional bunker sentiment

Jun 4, 2021

Platts Bunkerworld .

**Excess supply at Singapore weighing on prices **Delays loading 3.5%S FO at Algeciras expected to ease **Argentine agricultural exports supporting demand
Shipping group BIMCO prepares new charter party clauses for carbon compliance

Jun 3, 2021

Platts

**BIMCO study highlights commercial, contractual challenges **Cost sharing to be focus of BIMCO clauses
China independent refineries struggle for fuel oil amid tight supply, high prices

Jun 2, 2021

Platts

**New tax on bitumen blend makes fuel oil attractive **Straight run fuel oil supplies fall **Less competitive with crude
EUROPE AND AFRICA RESIDUAL FUEL: Key market indicators this week

Jun 1, 2021

Bunkerworld

Healthy gasoline and diesel margins incentivized increased VLSFO production from Mediterranean refiners.
S Korea VLSFO production in Q3 set to rise as refiners seek outlets for LCO

May 31, 2021

Platts Bunkerworld .

"China was a huge market for us, but now we're going to have to accommodate the extra LCO we will no longer be able to export," a refiner source said.
South Korea bunker supply tightens as SK Energy cuts production in May: sources

May 28, 2021

Platts Bunkerworld .

Some ships went to China, where 0.5%S bunker prices were lower. Also, when the ships route included both Japan and South Korea, the preference has been for bunker fuel from Japan due to lower prices, market sources said.
FEATURE: Bunker industry says unpredictable compliant fuel hampering hedging

May 27, 2021

Platts

**Liquidity in 0.5%S fuel oil paper market slowly gaining traction **Variability in 0.5%S fuel oil blendstock makes hedging difficult
Sri Lanka Hambantota port to set up marine fuel testing lab

May 26, 2021

Bunkerworld

In a virtual ceremony, HIP signed a 10-year partnership agreement with Intertek Lanka. Intertek lab will provide assurance, testing, inspection and certification services.
Oman's Sohar port unaffected by nearby protests over job cuts: traders

May 25, 2021

Platts Bunkerworld .

**Duqm bunkering seen ready in 3 months **Sohar port 2020 throughput at 62.5 mil mt **Job protests rare in Oman
Asia residual fuel market: Key market indicators this week

May 24, 2021

Platts

June arrivals of low sulfur fuel oil are expected to be higher than May and add to current levels in storage.
BUNKERWORLD INDEX: Prices fall amid pockets of weak demand, prospects of Iran deal

May 21, 2021

Platts Bunkerworld .

**Zoushan suppliers close to May sales targets, focus on margins expected **European demand expected to remain stable **Weak demand expected at USGC
India shipping operations run into disarray as cyclone makes landfall

May 18, 2021

Bunkerworld

Port operations delayed by few days with crude, coal imports likely to be hit
Asia residual fuel: Key market indicators this week

May 17, 2021

Platts

The Asian high sulfur fuel oil market was witnessing contrasts, with indications of noticeable demand for power generation from the Middle East and falling demand in Sri Lanka.
SINGAPORE DATA: April bunker sales rise 3.5% on year, up 1.4% from March

May 14, 2021

Bunkerworld

The overall rise in bunker sales was driven by a jump in high sulfur bunker fuel sales, the data showed.
INTERVIEW: Torm banks on long-term strength of large oil product tankers

May 13, 2021

Platts

**Shift in refinery capacity to lead to higher ton-mile demand **No single fuel will fit the bill on road to decarbonization
China's tepid ESPO crude demand puts Aframax rates under pressure, but USWC fixtures support

May 12, 2021

Bunkerworld

Presently, Aframaxes are barely earning $2,500-$4,000/day on some of the key routes in the East of Suez, sources said.
OPEC+ crude oil production rises in April, on surges from Iran, Russia: Platts survey

May 11, 2021

Platts

The rising output is a preview of the wave of OPEC+ crude set to hit the market over the next few months.
India's COVID-19 surge to unleash drastic disruptions in maritime industry: sources

May 10, 2021

Platts

Bunkering schedules will go awry, daily earnings will be hit and ships will seek to offset it by higher freight for India-bound voyages, sources said.
BUNKERWORLD INDEX: Prices fall amid tepid prompt demand, crude headwinds

May 7, 2021

Platts

**Singapore may see demand uptick **European low demand could linger **Market uncertainty in Colombia amid protests
Shipowner Euronav sees freight rate recovery later in 2021 after challenging Q1

May 6, 2021

Platts

**Freight rates likely to spike in H2 2021 **Illicit trade in Iranian, Venezuelan crude deferring scrapping **Dual fuel vessels on order ahead of IMO climate goals
Second wave of scrubber installations to support HSFO sales despite cleaner fuels shift

May 5, 2021

Platts Bunkerworld .

**4,006 ships currently fitted with scrubbers: BIMCO **Singapore Hi-5 spread mostly above $100/mt to date in 2021
LPG, oil operations at Indian ports normal amid COVID-19 measures

May 4, 2021

Bunkerworld

"There has been no berthing restrictions as of now at any LPG port due to COVID-19," one importer said.
BUNKERWORLD INDEX: Prices firm amid mixed outlook for marine markets

Apr 30, 2021

Platts

**Strong Chinese refinery runs weigh on domestic prices **ARA demand expected to increase **Firming oil complex supporting US bunker levels
Shell bounces back to black in Q1 but cautions uncertain pace of recovery

Apr 29, 2021

Platts

Looking ahead, Shell said it sees its upstream production at between 2.15 million - 2.35 million boe/d in the second quarter.
FUJAIRAH DATA: Oil product stocks climb with heavy distillates reaching an eight-month high

Apr 28, 2021

Platts Bunkerworld .

**Middle East sending gasoline to US Atlantic Coast **Fuel oil exports slowing, bunker sales falling
LNG presents transition pathway to shipping's decarbonization goals: sources

Apr 27, 2021

Platts Bunkerworld .

**Other low-carbon fuels will take time to develop **Dual-fuel engines gaining traction, fuels flexibility key **LNG's viability as bunker fuel proven on well to wake basis
FUJAIRAH DATA: March bunker sales fell for second month

Apr 26, 2021

Platts Bunkerworld .

**Singapore bunker sales rise despite crude gains **Temporary outage at Uniper Energy refinery **Marine gasoil bunker sales led decline
BUNKERWORLD INDEX: Bunker prices down as crude weakens

Apr 23, 2021

Platts Bunkerworld .

The Bunkerworld 0.5%S fuel oil pricing index ended April 22 at $492/mt, down $8/mt on the day and $11/mt on the week, but was $4/mt higher than 30 days prior.
Fuel cells critical to net-zero emission shipping: Shell Henderson

Apr 22, 2021

Platts Bunkerworld .

**Shell endorses LNG amid criticism of fuel **Hydrogen-powered fuel cells could be key to net-zero
AP Moller Maersk halts buying of ships without zero carbon capability

Apr 21, 2021

Platts

This means that even though these new ships will have dual fuel engine capability and can use diesel when zero carbon emitting fuels are unavailable, this will only be opted as a last resort.
S Korea's delivered 0.5% sulfur bunker differential to gasoil hits 10-month low

Apr 21, 2021

Platts

**Lower China prices attract demand from South Korea **Supply remains ample with refiners keen to sell
Asia residual fuel market: Key market indicators this week

Apr 19, 2021

Platts Bunkerworld .

Stagnating demand in the Singapore low sulfur fuel oil market is not expected to ease in the April 19-23 week, according to bunker suppliers.
FEATURE: Domestic LSFO production outpaces demand in China's bonded bunker fuel market

Apr 16, 2021

Platts Bunkerworld .

**Demand falls short of supply **Export quotas fail to stem growth
MPA, industry partners complete first biofuel trial with ocean-going ship in Singapore

Apr 15, 2021

Platts Bunkerworld .

**Biofuel used cuts CO2 emissions by 80%-90% well-to-exhaust compared with HFO/VLSFO **Trial to aid strategy for biofuels use to support BHP's key shipping routes
Containership Ever Given arrested by Suez Canal Authority: sources

Apr 14, 2021

Platts Bunkerworld .

The SCA's claim against Shoei Kisen includes $300 million as a salvage bonus and $300 million for loss of reputation. The claim on reputation has been disputed by Shoei Kisen and its insurer, sources said.
INTERVIEW: Hydrogen spot markets a decade away, but costs falling fast: Hydrogen Council

Apr 13, 2021

Platts Bunkerworld .

Over $2.5 trillion of investment in hydrogen was planned globally through to 2050, Wilson said.
EMEA residual fuel: Key market indicators

Apr 12, 2021

Bunkerworld

Saudi Arabia has been seen pulling in fuel oil cargoes from the ARA region in April, with the Aframax Seatribute loading about 80,000 mt of fuel oil from Rotterdam on April 4 with an estimated time of arrival at Yanbu port of April 19, according to data from cFlow, Platts trade flow software.
BUNKERWORLD INDEX: Prices show mixed signals amid varying local dynamics, bearish crude indicators

Apr 9, 2021

Platts Bunkerworld .

**Fujairah demand weak, supply good **Rotterdam demand steady, some tightness **Panama demand firming
Glencore starts low sulfur bunker supply in Singapore: sources

Apr 8, 2021

Platts

Glencore move to include low sulfur bunker supply comes amid progressively higher sales of the erstwhile mainstay high sulfur bunker fuel that the world's largest ship refueling destination has been witnessing over the course of 2020.
FUJAIRAH DATA: Oil product stocks rise on week led by record jump in fuel oils

Apr 7, 2021

Platts Bunkerworld .

**Fuel oil diverted from Singapore **Fujairah marine fuel at discount again
Vitol eyes a decade of oil growth but warns on jet fuel recovery

Apr 6, 2021

Platts

Company to pursue growth in bunkering and other sectors
Asia crude oil: Key market indicators this week

Apr 5, 2021

Platts Bunkerworld .

Crude oil futures retreated marginally during mid-morning trade in Asia April 5, after the OPEC+ alliance announced its plans late April 1 to gradually taper off production cuts from May to July.
BUNKERWORLD: Marine fuel prices bearish despite pockets of tightness, congestion

Apr 1, 2021

Bunkerworld

**Fujairah to see improved 0.5%S FO supply **Tightness at Rotterdam likely to linger **Poor visibility, weather at USGC may cause delays
Singapore bunkers seen little impacted by VPS sediment content alert: sources

Mar 31, 2021

Platts Bunkerworld .

**VPS sample test showed TSP of up to 0.18 % m/m **Deliveries made by multiple suppliers between March 19-23: VPS
East of Suez ULSD shipments to Europe set at 510,000 mt in March, Suez transit dependent: cFlow

Mar 26, 2021

Bunkerworld

Around 510,000 mt of East of Suez ULSD is set to arrive in Europe in March, including around 220,000 mt sent in the seven days to March 26, according to cFlow, S&P Global Platts trade flow software.
Stuck Suez Canal container ship disrupts global commodities trade: sources

Mar 24, 2021

Platts

**Demurrage costs to rise **Salvage operations on
China's Jan-Feb bonded bunker fuel supply hits record high of 3.2 million mt

Mar 23, 2021

Platts Bunkerworld .

**Jan-Feb bonded bunker fuel supply jumps 50% on year **Output of LSFO for bonded bunkering rise 223%
BUNKERWORLD INDEX: Prices dip amid soft crude outlooks

Mar 19, 2021

Platts Bunkerworld .

In Fujairah, the premium for low sulfur marine fuel, which had soared to multi-month highs over the course of the week ended March 19, was likely to edge lower in the near term, said traders.
SAUDI DATA: Crude exports rise again as Saudi Arabia draws on inventories

Mar 18, 2021

Platts

**Supplies to market rose to 9.194 mil b/d in January **Output just below 9.119 million b/d OPEC+ quota
FUJAIRAH DATA: Oil product inventory rises 7% led by light distillates

Mar 17, 2021

Platts Bunkerworld .

**Heavy distillate inventory increased 6.1% **Middle distillate stocks declined 6.7%
World oil demand may have peaked in 2019 amid energy transition: IRENA

Mar 16, 2021

Platts

Under the 1.5 C scenario, global oil production is projected to plummet by 85% to slightly above 11 million b/d by 2050 from current levels, IRENA said.
Asia residual fuel - Key market indicators this week

Mar 15, 2021

Platts

Rising seasonal demand for high sulfur fuel oil from South Asia to meet increasing power generation demand remains a ray of hope for refiners
BUNKERWORLD INDEX: Prices rise amid firming crude and variable VLSFO supply

Mar 12, 2021

Platts Bunkerworld .

**Fujairah market set to firm on limited availability **Rotterdam access to product expected to improve **Pockets of good demand in Latin America
Asia LR1 rates trade at 2021 high as tankers delay return to Middle East: sources

Mar 11, 2021

Platts

At current bunker prices, LR1s are likely to earn around $8,000 daily on the benchmark PG-Japan route and another $3,000/d on backhaul, according to shipping industry estimates.
Singapore 180 CST HSFO to firm in the near term on uptick in regional demand: traders

Mar 10, 2021

Bunkerworld

The country may to import around 350,000 mt of HSFO in March, up from 300,000 mt in February, as rising temperatures boosts power demand.
Saudi Arabia discipline pushes OPEC+ crude output to 4-month low in Feb: Platts survey

Mar 8, 2021

Platts

**OPEC pumps 24.86 mil b/d in Feb, non-OPEC adds 12.97 mil b/d **Saudi Arabia produces 8.13 mil b/d, fulfilling extra cut pledge
BUNKERWORLD INDEX: Bullish supply conditions ahead at some key ports

Mar 5, 2021

Platts Bunkerworld .

**Firm prices likely to dampen Singapore demand **Rotterdam 0.5%S FO supply outlook limited **USGC market heard tight, congested
Singapore March ex-wharf marine fuel term settles at $6/mt premium

Mar 4, 2021

Platts Bunkerworld .

"Volumes are expected to be higher in March compared to Feb as Feb was a short month," a trader said.
OIL FUTURES: Rally accelerates as US gasoline draw offset Gulf Coast crude build

Mar 3, 2021

Platts Bunkerworld .

An overnight oil price rally extended midmorning March 3 after a larger-than-expected drop in US gasoline stocks offset the largest-ever one-week build in crude inventories.
Europe and Africa residual fuel: Key market indicators this week

Mar 2, 2021

Platts

** Support remains on lower sulfur fuel oils, as reduced refinery runs continue to dampen resupply ** Fundamentals diverge between low and high sulfur products
Lanka Marine Services starts 0.5%S marine fuel sales at Hambantota

Mar 1, 2021

Bunkerworld

"Cargo imports are done by Sinopec Sri Lanka with whom LMS has entered into a strategic partnership," company officials said.
Asia residual fuel: Key market indicators this week March 1-5

Mar 1, 2021

Platts Bunkerworld .

Higher arbitrage volumes of low sulfur fuel oil cargo arriving in Singapore in March underpinned recent trading sentiment, although the Singapore delivered bunker market is still expected to see an initial period of tightness, as most arrivals are scheduled in the latter hald of the month.
BUNKERWORLD INDEX: Prices show bullish signs, track rising crude

Feb 26, 2021

Platts

**Asian buyers securing product ahead of further rises **Tightness in 0.5%S FO expected at Rotterdam **US prices supported by post-storm recovery
Rising volatility in marine markets lifts hedging against Platts instruments: ICE

Feb 25, 2021

Platts Bunkerworld .

**ICE traded volumes of marine fuel up 114% on year **Freight contract exposure hedged as far as 2025 **Different approaches to managing risk
Singapore's MPA, Yara join ammonia-fueled tanker development project

Feb 24, 2021

Platts Bunkerworld .

The consortium will tap onto MPA's experience as a bunkering hub and flag state to gather insights on safety issues and ammonia bunkering.
Bunker markets in Panama see strong hikes on supply curbs from US Gulf Coast

Feb 23, 2021

Platts

"Supply has tightened a lot and has triggered higher levels, especially for deliveries in the next 5-10 days," a market source said.
S. Korea's SK Energy to cut low sulfur bunker fuel output in March, April on VRDS maintenance

Feb 22, 2021

Platts Bunkerworld .

To make up the shortfall in production, SK Energy has bought one MR-sized low sulfur fuel oil cargo from Singapore from arrival in March, sources said.
For green hydrogen to catch up with blue, it's a long ride in India

Feb 18, 2021

Platts

"Until such time green hydrogen processes are fully developed, blue hydrogen can supplement overall hydrogen supply," Malhotra said.
Singapore HSFO quality and testing procedures

Feb 17, 2021

Platts Bunkerworld .

Platts welcomes feedback on the above issues, including testing methods, and quality specifications.
Bunkerworld Index: Prices rising with crude, but demand remains weak

Feb 12, 2021

Platts Bunkerworld .

The BW0.5%S Index ended Feb. 11 at $486/mt, down $4/mt day on day but up $18/mt on the week and $39/mt higher than 30 days previously.
INTERVIEW: IMO 2020 a success but other hurdles linger for bunker industry: expert

Feb 10, 2021

Platts Bunkerworld .

Margin pressures, credit squeeze remain concerns while industry consolidation is set to continue, Tolson said.
Singapore physical 10 ppm gasoil crack hits 6-month high on tight supply balances

Feb 9, 2021

Platts Bunkerworld .

Asian gasoil balances could see further tightening over the next few months with upcoming refinery maintenance, Platts Analytics said.
Bunkerworld Index: Rising crude supports bunker prices, but patchy demand ahead

Feb 5, 2021

Platts

**Singapore 0.5%S FO supply expected greater in March **NWE demand expected to remain weak **Poor demand but tight logistics at New York
Oil's peak seen nowhere near in India despite energy transition

Feb 5, 2021

Platts Bunkerworld .

**BPCL to aggressively pursue refining expansion **Volatile markets call for increased hedging **Oil and gas, new energy consumption to go hand-in-hand
MARINE FUEL 0.5%: Outright prices rebound on tight supply; retail bunker market demand below normal

Feb 4, 2021

Bunkerworld

Singapore is expected to receive about 2.5 million mt of low sulfur fuel oil from the West in February, traders said.
Iranian oil tanker in Egypt's Great Bitter Lake after running aground in Suez Canal: Platts cFlow

Feb 3, 2021

Platts

The Aframax Sahra ran aground due to engine trouble around Km 123 of the Suez Canal while transiting from the Red Sea to the Mediterranean.
Asia residual fuel market - Key market indicators this week

Feb 1, 2021

Platts Bunkerworld .

The Singapore Marine fuel 0.5%S bunker demand is expected to dip over Feb. 1-5, ahead of the Lunar New Year holidays, after the uptick in the second half of January, traders said, even as the North Asian power sector demand for Singapore Marine Fuel 0.5%S cargoes peter.
Bunkerworld Index: Vaccine shortages, lower Chinese mobility weigh on crude, marine fuel

Jan 29, 2021

Bunkerworld

**Singapore market seen lower as Lunar New Year nears **More vessels in Mediterranean signal firming demand **Diverging US sentiment on firming upstream, limited liquidity
Singapore's Eastern Pacific Shipping surpasses CO2 reduction targets ahead of schedule

Jan 28, 2021

Platts

Over the next few years, EPS will add LNG and LPG Dual-Fuel vessels across various segments.
Global carbon market grows 20% to $272 billion in 2020: Refinitiv

Jan 27, 2021

Platts Bunkerworld .

**Market shrugs off pandemic to increase further **International climate ambition driving growth in value **More than five-fold expansion since 2017
Storage companies seen pivotal for mitigating energy transition risk

Jan 26, 2021

Platts

**Storage firms have skills base to handle hydrogen **Storage an attractive prospect to investors **ESG attracting a range of interested players
Bunker sales in Panama recover in Dec, resilience seen in H2 2020

Jan 25, 2021

Platts Bunkerworld .

**Bunker sales in Panama rise 13.6% in December **Total sales of bunkers in 2020 fall 11.4% on year **Prices on the rise
Bunkerworld Index: Prices waver as lockdowns intensify

Jan 22, 2021

Platts Bunkerworld .

The BW0.5%S Index ended Jan. 21 at $447/mt, down $4/mt on the day, up $1/mt on the week and $41/mt higher than 30 days previously.
TFG Marine to commence bunkering operations at Falmouth from January

Jan 21, 2021

Platts

**Company to start bunkering operations at Falmouth anchorage in Jan **TFG Marine to commence operations with two barges first **Plans underway to expand bunker fleet over time
US sanctions European oil traders, tankers for violating Venezuelan crude oil sanctions

Jan 20, 2021

Platts Bunkerworld .

**Sanctions extend to those working with Mexican network **Ban on Citgo share seizures extended until July **Moves come on Trump's last full day in office
Singapore Marine Fuel crack at 10-month high on strong N Asia LSFO demand

Jan 19, 2021

Platts

Rally in the Asian marine fuel 0.5%S to be short-lived after cold snap retreats.
Asia residual fuel market - Key market indicators this week

Jan 18, 2021

Platts Bunkerworld .

While bunker demand in the Singapore Marine fuel 0.5% market continued to be lacklustre, the market has been buoyed by demand from utility companies in North Asia amid low fuel inventory and high LNG prices, traders said.
OPEC, shale output needs to rise to offset possible year-end supply squeeze: Vitol CEO

Jan 13, 2021

Platts Bunkerworld .

**OPEC+ slows down output rises more than expected **2021 demand increase to hover around 6 mil-6.5 mil b/d **Oil prices rising due to potential supply squeeze
European VLSFO crack hits 10-month high on tight supply

Jan 12, 2021

Platts

**0.5%S marine fuel crack up $1 in past week **Weak supply supporting prices: sources
Asia residual fuel market - Key market indicators this week

Jan 11, 2021

Platts Bunkerworld .

The Singapore Marine fuel 0.5%S market witnessed tepid downstream bunker demand in the first trading week of 2021, although bunker traders have pegged their hopes on a demand recovery for the second half of the month.
Bunkerworld Index: Prices rise as bullish crude factors offset limp demand

Jan 8, 2021

Platts Bunkerworld .

**Traders at Asian hubs hope for higher demand in H2 Jan **European market lacks direction amid mixed buying interest **USGC ports see weak demand, pockets of tightness elsewhere