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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

Truck-to-ship LNG bunkering in Hammerfest. Barents NaturGass begins LNG bunkering operations for Havila Kystruten in Hammerfest  

Norwegian supplier completes first truck-to-ship operation using newly approved two-truck simultaneous bunkering design.
Everllence L70ME-GI engine. Everllence receives 2,000th dual-fuel engine order from Cosco  

Chinese shipping line orders 12 methane-fuelled engines for new 18,000-teu container vessels.
Sakura Leader vessel. NYK signs long-term charter deals with Cheniere for new LNG carriers  

Japanese shipping company partners with Ocean Yield for vessels to be delivered from 2028.
Ocean Legacy vessel. Sallaum Lines takes delivery of LNG-powered container vessel MV Ocean Legacy  

Shipping company receives new dual-fuel vessel from Chinese shipyard as part of fleet modernisation programme.
Gas Utopia vessel alongside Oceanic Moon vessel. Rotterdam bio-LNG bunkering surges sixfold as alternative marine fuels gain traction  

Port handled 17,644 cbm of bio-LNG in 2025, while biomethanol volumes tripled year-on-year.
Bennett J. Pekkattil and Capt. Alok RC Sharma. TFG Marine calls for digital transformation to manage alternative fuel risks  

CFO says transparency and digital solutions are essential as the marine fuels sector faces volatility from diversification.
Mugardos Energy Terminal. Reganosa’s Mugardos terminal adds bio-LNG bunkering for ships and trucks  

Spanish facility obtains EU sustainability certification to supply renewable fuel with 92% lower emissions.
Global Ethanol Association (GEA) and Growth Energy logo side by side. Growth Energy joins Global Ethanol Association as new member  

US biofuel trade association represents nearly 100 biorefineries and over half of US ethanol production.
Bertha B vessel. H2SITE explains decision to establish Bergen subsidiary  

Ammonia-to-hydrogen technology firm says Norwegian city was obvious choice for its ambitions.
Vessel at sea under dark clouds. Gibraltar Port Authority issues severe weather warning for gale-force winds and heavy rain  

Port authority warns of storm-force gusts of up to 50 knots and rainfall totals reaching 120 mm.




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