By Srinivas Chowdary Sunkara // petrobazaar // 15th Nov 2021.
BUNKER PRICE TRENDS
Fuel oil 380 cSt prices went up $4.75 or 1.06 pct to $458.25 while MDO prices turned up by $21.5 or 3.54 pct and MGO prices also settled up by $8 or 1.18pct during the week. Following the global markets trend, We expect Furnace oil retail selling prices may be revised down for the second half of Nov, 2021.
FUEL OIL MARKETS
Amsterdam - Rotterdam - Antwerp (ARA) hub in north west Europe bunker market remains well supplied with VLSFO and LSMGO while HSFO stocks remain tight for prompt dates usually requiring longer lead times.
Bunkering resumed at the Chinese bunkering hub of Xue Shan continues to have good fuel availability for all three bunker grades. Similarly barge availability is tight for HSFO with only one supplier having product to offer.
Singapore’s Fuel oil inventories dipped 3% last week due delivery challenges with tight barge schedules and loading congestion reducing availability of prompt product. VLSFO now requires up to 11 days ahead. LSMGO is slightly more readily available at six to eight days, while lead times for HSFO are steady on the week to 10 to 12 days.
Bunker Fuel availability remains tight in Japan, lead times of up to 12 days are advised for VLSFO and HSFO stems in Tokyo Bay. Domestically produced fuel oil is being used for power generation. LSMGO is in shortage due to refinery maintenance. Gibraltar Strait is facing fuel oil tightness due to halt at refinery. Gibraltar strait Canary Islands and wider Mediterranean region have had to look elsewhere for replenishment this month.
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