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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

United LNG I bunker vessel alongside Blue Aspire vessel. Titan charters 8,000-cbm LNG bunker vessel for ZARA region operations  

United LNG I to deliver LNG and bio-LNG across Amsterdam, Rotterdam, Antwerp and Zeebrugge ports.
Flag of Mauritania. Peninsula begins physical bunker supply operations in Mauritania  

Marine fuel supplier operating two barges following licence award from the Mauritanian National Hydrocarbons Commission.
X-Press Cassiopeia vessel. PuriFire Energy signs biomethanol supply deal with X-Press Feeders  

Letter of intent covers up to 15,000 tonnes annually for feeder carrier’s fleet.
Alan Yang and Yujin Kang, Flex Commodities. FLEX Commodities opens Seoul office with new Korea leadership team  

Dubai-based trader establishes South Korea presence with appointments of Alan Yang and Yujin Kang.
Eng. Sulaiman Ali Al Hadhrami, O Bunkering. O Bunkering appoints Sulaiman Alhadhrami as chief executive officer  

Omani bunker supplier names new CEO to lead growth and expansion in the maritime sector.
Shore power system. Zhoushan expands shore power infrastructure as part of emissions reduction drive  

Chinese port city reports 30% increase in shore power usage across terminals and berths.
Hamburg Express vessel. Hapag-Lloyd and Kuehne+Nagel partner on biofuel initiative for Asia-Europe trade  

Agreement covers 3,300-teu using waste-based biofuels, targeting a 2,979-tonne CO₂e reduction in 2026.
Rendering of a tug vessel. Berg Propulsion to supply electric propulsion systems for India’s green tugs  

Swedish firm to provide thrusters and electrical integration for two 60-tonne bollard pull battery-electric vessels.
Singapore skyline with Merlion and central business district. World Fuel seeks marine fuel supply executive in Singapore  

Role to manage supplier relationships and source marine fuel across South-East Asia and Australia-New Zealand.
OOCL Wisdom naming ceremony. OOCL names first methanol dual-fuel vessel  

Orient Overseas Container Line christens OOCL Wisdom, dubbed the world’s largest methanol dual-fuel container vessel.




   Fuels & Propulsion

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



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