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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

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Role requires more than five years' experience in bunkering, trading, energy or commodities.
Th'ailib vessel. MISC names first of three new LNG carriers for QatarEnergy charter deal  

Th'ailib, chartered to QatarEnergy for 15 years, extends MISC's long-term LNG fleet partnership with the energy producer.
Svitzer TRAnsverse tug render. AYK Energy to supply batteries for Kongsberg Maritime’s electric Svitzer tugs  

Battery maker AYK Energy expands its workboat portfolio with a deal to power four fully electric Svitzer TRAnsverse tugs.
Wartsila 34DF engine render. Wärtsilä to supply dual-fuel engines for 12 CMA CGM container ships  

Wärtsilä will deliver 36 LNG dual-fuel engines for a dozen new 18,000-TEU container vessels being built for CMA CGM.
Keel-laying ceremony of Disney Believe. Keel-laying ceremony held for LNG-powered Disney Believe at Meyer Werft  

Construction starts on second gigablock of Disney Believe, the fourth vessel in Disney Cruise Line’s Wish class.
RINA and PTT MoU signing. RINA and Thailand’s PTT sign MoUs to collaborate on decarbonisation technologies  

Agreements establish a research and knowledge-sharing framework covering alternative fuels, hydrogen readiness and vessel electrification across the energy and maritime sectors.
IBIA logo. IBIA to host ethanol marine fuel workshop in New York  

Limited-capacity session will examine ethanol’s commercial, technical and regulatory prospects as a shipping fuel.
Blue Whale NxtGen Energy battery system. Corvus Energy’s Blue Whale NxtGen battery system gains DNV type approval  

DNV approval confirms the safety and performance of Corvus Energy’s large-scale battery system for ferries, cruise ships and offshore vessels.
Jessie Ng, PMG Energies. PMG Energies appoints Jessie Ng as bunker trader in Singapore  

Bunker firm adds experienced trader to Singapore team.
Hapag-Lloyd vessel Seaspan Amazon during a bunkering operation. Hapag-Lloyd completes simultaneous-operations biomethanol bunkering in Busan  

Container line bunkers ISCC EU-certified biomethanol from Goldwind during SIMOPS, advancing its 2024 supply agreement.




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