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Wed 7 Mar 2018, 08:56 GMT

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.

Fuel Oil Market (March 6)

The front crack opened at -10.70, strengthening to -10.40, before weakening to -10.60. The Cal 19 was valued at -14.80

Trade activity in the fuel oil derivatives market was muted on Tuesday while rising crude oil prices weighed on Asia's frontmonth high-sulphur fuel oil crack, trade sources said.

Oil futures rose on Tuesday for a third session, underpinned by robust demand forecasts and as ministers from OPEC touted the strength of its agreement to cut output to bolster prices.

Broker sources pegged the front-month 380 cSt crack to Brent crude at a discount of about $10.70 a barrel on Tuesday, down from a narrow range of about minus $10.25 -$10.30 a barrel in the previous session.

Economic Data and Events

* 12pm: MBA Mortgage Applications March 2, prior 2.7%

* 1:30pm: U.S. Nonfarm Productivity 4Q Final, est. -0.1%, prior -0.1%

* 1:15pm: U.S. ADP Employment Change Feb., est. 200k, prior 234k

* 3:30pm: EIA issues weekly U.S. oil inventory report

* Today:

** DNB's Oil, Offshore and Shipping conference, Oslo, 1st day of 2

** CERAWeek, with today's speakers including Shell CEO Ben van Beurden, U.S. Energy Secretary Rick Perry, among others, 3rd day of 5

Singapore 380 cSt

Apr18 - 357.50 / 359.50

May18 - 356.75 / 358.75

Jun18 - 356.00 / 358.00

Jul18 - 354.75 / 356.75

Aug18 - 353.25 / 355.25

Sep 18 - 351.50 / 353.50

Q2-18 - 356.75 / 358.75

Q3-18 - 353.00 / 355.00

Q4-18 - 347.00 / 349.50

Q1-19 - 339.50 / 342.00

CAL19 - 309.50 / 313.50

CAL20 - 241.50 / 249.50

Singapore 180 cSt

Apr18 - 364.75 / 366.75

May18 - 364.00 / 366.00

Jun18 - 363.25 / 365.25

Jul18 - 362.25 / 364.25

Aug18 - 360.75 / 362.75

Sep 18 - 359.00 / 361.00

Q2-18 - 364.00 / 366.00

Q3-18 - 360.50 / 362.50

Q4-18 - 354.50 / 357.00

Q1-19 - 347.25 / 349.75

CAL19 - 321.50 / 325.50

CAL20 - 253.50 / 261.50

Rotterdam Barges

Apr18 344.75 / 346.75

May18 343.75 / 345.75

Jun18 342.50 / 344.50

Jul18 340.75 / 342.75

Aug18 338.75 / 340.75

Sep 18 - 336.00 / 338.00

Q2-18 343.75 / 345.75

Q3-18 339.25 / 341.25

Q4-18 330.00 / 332.50

Q1-19 322.50 / 325.00

CAL19 288.50 / 292.50

CAL20 228.50 / 236.50

E-fuels volumes per country. Europe risks falling behind China in race to produce e-fuels for shipping  

Europe has 69 e-fuel projects but only six are operational, while China is scaling rapidly.
Hiring concept with highlighted candidate. Sing Fuels opens applications for junior bunker trader role  

Singapore-based firm seeks candidates with one to two years of experience in marine fuels or the wider maritime industry.
Eleven Energy logo. Eleven Energy eyes Athens expansion with trader hire  

Riyadh-headquartered firm looking to open its second office in Europe.
Scorpio team with representatives from Monaco's Department of Economic Development. Monaco backs Scorpio Ship Management in European hydrogen propulsion project  

Government co-finances Scorpio’s role in Project Mariner as Europe pushes to develop hydrogen propulsion technology for commercial shipping.
Arlon vessel. Exmar takes delivery of second dual-fuel ammonia carrier at HD Hyundai Heavy Industries  

Arlon is second in a planned series of four ammonia dual-fuel midsize gas carriers.
Singapore Marina Bay skyline. IBT Bunkering & Trading launches Singapore desk to complement Hamburg operation  

German bunker firm says the move gives it round-the-clock coverage across two continents.
Maritime and Port Authority of Singapore logo. Singapore awards eight new LNG bunkering licences ahead of September launch  

The Maritime and Port Authority of Singapore is expanding the city-state’s LNG bunkering capacity with eight new five-year licences.
Launching ceremony of Maran Melina. New Times Shipbuilding launches two LNG dual-fuel crude oil tankers for Maran and Capital Ship  

Two 155,500-dwt LNG dual-fuel tankers floated out for Greek shipping groups.
Lem Azalea and Lem Plumeria naming ceremony. Naming ceremony held for Huangpu Wenchong's first methanol dual-fuel bulkers  

Two 65,000-tonne vessels built for Limassol-based Lemissoler Navigation.
TSS Challenger vessel. Damen launches second CSOV 9020 for TSSM, prepared for future methanol operation  

The vessel, to be named TSS Challenger, is due for delivery in early 2027.




   Fuels & Propulsion

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