Mon 30 Oct 2017 08:59

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.



Fuel Oil Market (October 27)

Cracks extend losses, as ARA inventories build. Asia's fuel oil crack fell for a third consecutive session on Friday amid rising fuel oil inventories across key storage hubs over the past week as well as strength in crude oil prices, trade sources said.

Fuel oil stocks in the Amsterdam-Rotterdam-Antwerp (ARA) oil hub rose 6 percent, or 77,000 tonnes, to 1.334 million tonnes in the week to Oct. 26, PJK data showed. ARA Compared to last year, ARA fuel oil inventories are up 122 percent and are well above the five-year average of 793,000 tonnes for this time of year. Few fuel oil exports contributed to the build in inventories, industry sources said.

One outgoing fuel oil cargo was reported over the past week from the ARA hub to Senegal, PJK data showed. This week, official data showed Singapore fuel oil inventories rose 3 percent to a total of 3.75 million tonnes in the week to Oct. 25. Inventories in (FOIZ) were 6 percent higher in the week to Oct. 23 to a total of 1.38 million

Economic Data/Events: (UK times)

* 9:30am: U.K. mortgage approvals for Sept., est. 66k (prior 66.6k)

* 10am: Eurozone consumer confidence for Oct., final, est. -1% (prior -1%)

* 12:30pm: U.S. personal income for Sept., est. 0.4% (prior 0.2%)

** Personal spending for Sept., est. 0.9% (prior 0.1%)

* 1pm: Germany CPI m/m for Oct., prelim., 0.1% (prior 0.1%)

** CPI y/y for Oct., prelim., est. 1.7% (prior 1.8%)

* Today:

** Basra Oil, Gas & Infrastructure conference in Beirut; 1st day of 2

** North Sea Forties, Ekofisk loading programs for December

** Bloomberg forecast of U.S. waterborne LPG exports

** Boomberg proprietary forecast of Cushing crude inventory change plus weekly analyst survey of crude, gasoline, distillates inventories

* Earnings:

** Sinopec, PetroChina, Galp

Singapore 380 cSt

Nov17 - 348.00 / 350.00

Dec17 - 346.50 / 348.50

Jan18 - 344.50 / 346.50

Feb18 - 343.00 / 345.00

Mar18 - 341.75 / 343.75

Apr18 - 340.50 / 342.50

Q1-18 - 343.00 / 345.00

Q2-18 - 339.25 / 341.25

Q3-18 - 334.75 / 337.25

Q4-18 - 330.50 / 333.00

CAL18 - 337.75 / 340.75

CAL19 - 306.75 / 311.75

CAL20 - 276.75 / 283.75

Singapore 180 cSt

Nov17 - 352.75 / 354.75

Dec17 - 351.50 / 353.50

Jan18 - 350.00 / 352.00

Feb18 - 349.25 / 351.25

Mar18 - 348.25 / 350.25

Apr18 - 347.25 / 349.25

Q1-18 - 349.00 / 351.00

Q2-18 - 345.75 / 347.75

Q3-18 - 341.25 / 343.75

Q4-18 - 338.00 / 340.50

CAL18 - 344.50 / 347.50

CAL19 - 315.50 / 320.50

CAL20 - 286.50 / 293.50

Rotterdam 380 cSt

Nov17 329.25 / 331.25

Dec17 325.50 / 327.50

Jan18 325.00 / 327.00

Feb18 324.75 / 326.75

Mar18 324.50 / 326.50

Apr18 324.00 / 326.00

Q1-18 324.75 / 326.75

Q2-18 323.25 / 325.25

Q3-18 318.75 / 321.25

Q4-18 311.50 / 314.00

CAL18 319.75 / 322.75

CAL19 284.25 / 289.25

CAL20 253.50 / 260.50


MPA and DNV sign MoU. MPA Singapore and DNV renew partnership to advance maritime decarbonisation and digitalisation  

Third MoU renewal focuses on zero-emission fuels, smart-ship systems, and talent development initiatives.

AET and Samsung Heavy Industries logo side by side. AET orders two LNG dual-fuel Suezmax tankers from Samsung Heavy Industries  

Singapore-based tanker operator to expand dual-fuel fleet with vessels featuring advanced efficiency and emissions reduction technologies.

Port of Tallinn and Ports of Stockholm sign MoU. Port of Tallinn and Ports of Stockholm launch green collaboration for fossil fuel-free shipping  

Estonian and Swedish ports sign MoU to promote sustainable maritime transport on Baltic Sea routes.

Grupo Ibaizabal vessel render. NextDF engines achieve 0.9% methane slip for Ibaizabal's LNG bunkering vessel  

Factory tests show methane emissions far below FuelEU Maritime threshold on newbuild.

Steve Esau, Sea-LNG. Sea-LNG welcomes EU transport plan's recognition of methane decarbonisation pathway  

Industry coalition says STIP validates investments in LNG, bio-methane, and e-methane for shipping.

Port of Bell Bay and Bell Bay Industrial Precinct. TasPorts and H2U Group sign MoU to explore green ammonia production at Bell Bay  

Feasibility study to assess 500,000 tonne per year green ammonia facility in northern Tasmania.

Ostend Hydrogen Refuelling Station. JERA Nex bp commissions hydrogen refuelling station at Port of Ostend  

Facility will initially serve Windcat's Hydrocat 48 as part of EU-funded demonstration project.

Methanol bunkering training simulator. Anglo-Eastern launches methanol bunkering simulator with Wärtsilä for seafarer training  

Ship manager introduces simulator and courses to train crew in safe handling of methanol fuel.

ATH Catamba vessel. ATH Trading adds bunker tanker to Angola fleet  

Commodity trader deploys M/T ATH Catamba in Luanda for offshore marine fuel supply operations.

European Union member state flags. Danish Shipping calls for EU to invest ETS revenues in green marine fuel production  

Industry body welcomes Commission's sustainable transport plan but urges concrete action on funding.





 Recommended