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Tue 19 Dec 2017, 08:58 GMT

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.

Fuel Oil Market (December 18)

The front crack opened at -8.85, strengthening to -8.65 across the day. The Cal 18 was valued at -8.25.

Cash premiums of Asia's 180 cSt high sulphur fuel oil jumped to a near three-month high on Monday, boosted by stronger buying interest and elevated deal values for the lower viscosity oil, trade sources said.

South Korean refiner GS Caltex Corp has bought a rare cargo of Cold Lake crude, the company's first purchase in more than two decades of this Canadian oil grade, a company spokesman said on Monday.

The second-largest refiner in South Korea bought 300,000 barrels of the heavy sour crude for delivery in the second half of February, he said.

The refiner is trying out a small volume of the oil, which has a quality similar to that of Iraq's Basra Heavy crude, a person familiar with the matter said.

Economic Data/Events: (UK times)

* 1:30pm U.S. Nov. housing starts, est. 1,250k (prior 1,290k)

* 1:30pm U.S. 3Q current account balance, est. -$116.2b (prior - $123.1b)

* 9:30pm API issues weekly U.S. oil inventory report

* Bloomberg-compiled refinery snapshot, looking at key outages at refineries in U.S., Canada and providing offline capacity projections for crude units and FCCs

Singapore 380 cSt

Jan18 - 362.50 / 364.50

Feb18 - 361.75 / 363.75

Mar18 - 361.75 / 363.75

Apr18 - 361.50 / 363.50

May18 - 361.25 / 363.25

Jun18 - 360.25 / 362.25

Q1-18 - 362.00 / 364.00

Q2-18 - 360.00 / 362.00

Q3-18 - 355.75 / 358.25

Q4-18 - 350.50 / 353.00

CAL18 - 355.50 / 358.50

CAL19 - 322.25 / 327.25

Singapore 180 cSt

Jan18 - 366.75 / 368.75

Feb18 - 366.50 / 368.50

Mar18 - 366.75 / 368.75

Apr18 - 366.75 / 368.75

May18 - 366.50 / 368.50

Jun18 - 365.75 / 367.75

Q1-18 - 366.75 / 368.75

Q2-18 - 365.25 / 367.25

Q3-18 - 361.75 / 364.25

Q4-18 - 356.75 / 359.25

CAL18 - 361.25 / 364.25

CAL19 - 331.25 / 336.25

Rotterdam 380 cSt

Jan18 346.50 / 348.50

Feb18 346.50 / 348.50

Mar18 346.50 / 348.50

Apr18 345.75 / 347.75

May18 344.75 / 346.75

Jun18 343.50 / 345.50

Q1-18 346.50 / 348.50

Q2-18 345.00 / 347.00

Q3-18 340.00 / 342.50

Q4-18 331.00 / 333.50

CAL18 339.75 / 342.75

CAL19 298.75 / 303.75

Tsurugidake naming ceremony. MOL holds naming ceremony for fourth LNG dual-fuel VLCC  

Vessel, named Tsurugidake, features an LNG fuel tank with a capacity exceeding 10,000 cbm.
VPS Carbon Reduction seminar graphic. VPS to host Bergen seminar on marine fuel quality, lubricants and decarbonisation regulation  

Free-to-attend event on September 16 will feature speakers from VPS and DNV.
Launching ceremony of Carlotta Cosulich. Cosulich Marine Energy launches third methanol-ready bunker tanker in China  

Carlotta Cosulich launched at Taizhou Maple Leaf Shipyard, leaving one vessel in series still to come.
Carnival Corporation logo. Carnival's CSMART seeks specialist instructor for LNG-as-fuel training in Netherlands  

Role focused on delivering training to through classroom instruction and simulator-based learning.
Port of Galveston. Stabilis Solutions nears 100 LNG bunkering operations at Galveston  

Houston-based supplier highlights its Gulf Coast LNG bunkering record as plans advance for new liquefaction facility.
Central control room at the green methanol plant. Towngas hosts Hong Kong government delegation at Inner Mongolia green methanol plant  

Hong Kong's Transport and Logistics Bureau tours VENEX facility as green methanol capacity scales to 300,000 tonnes.
CMA CGM Notre Dame vessel at Singapore Port. Singapore 12-month bunker calls hit all-time high in July  

TTM calls at world's largest bunkering hub reach record levels despite softer sales volumes.
Cargo port in Singapore. Singapore T3M bunker sales stay below 14m tonnes for fourth month running  

Rolling three-month volumes remain subdued despite modest month-on-month recovery in July.
Shore power system launch at Port of Callao. Peru’s Port of Callao launches first shore power system in Latin America  

DP World Callao’s onshore power supply system could cut over 6,300 tonnes of CO₂ annually.
Aristodimos vessel. New Times Shipbuilding delivers LNG dual-fuel crude oil tanker to Capital  

Chinese yard hands over 155,500-dwt vessel in ceremony attended by owner’s representative.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG / LBM / LBG Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane / e-NG E-methanol Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind



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