Cst Fuel Oil News

The Baltic Exchange has added quarterly assessments of the cost of operating crude oil carrying Aframax tankers and clean product carrying Medium Range (MR) tankers to its growing suite of shipping investor tools.The new service is based on assessments made by independent third-party ship management companies Anglo Eastern, Fleet Management and V-Ships. Using the full suite of independent Baltic Exchange indices, investors are now able to benchmark daily vessel earnings, running costs, sale & purchase and recycling prices.

Singapore marine fuel sales climbed to a four-month high of 4.283 million tonnes in May, up 1.2 percent from the previous month and 2.5 percent higher compared with a year ago, data from the Maritime and Port Authority of Singapore (MPA) showed on Wednesday.The strong volumes sold in May were largely in line with industry expectations and come despite sharply higher bunker fuel prices due to rising crude oil prices and shortages of finished grade bunker fuel oil during the month.The cost of 380-centistoke (cst) fuel oil cargoes, the mainstay bunker fuel for large vessels, in May averaged $433

Singapore marine fuel sales climbed to a three-month high of 4.233 million tonnes in April, up 1.6 percent from the previous month but 0.5 percent lower from the same time last year, data from the Maritime and Port Authority of Singapore (MPA) showed on Monday.In a signal of steady demand for marine fuels, the firm April sales volumes came despite rising fuel costs and supply disruptions of some bunker fuels towards the end of the month, trade sources said.The cost of 380-centistoke (cst) fuel oil cargoes, the mainstay bunker fuel for large vessels, in April averaged $385 per tonne in Singapor

Singapore's marine fuel sales set a monthly record in January after climbing to 4.606 million tonnes, up 3.2 percent from a year earlier as vessels coming to the world's largest bunkering hub loaded larger amounts of bunker fuel per vessel on average, official data showed. Compared with the previous month, sales in January were up 7.2 percent, data from the Maritime and Port Authority of Singapore (MPA) showed. The number of vessels that called at Singapore for bunkers fell by 4.4 percent from last year to 3,472 but was at an eight-month high, MPA data showed.

The Asian Aframax market is currently stable but seems to be facing a more positive outlook on the back of short-term time charters as well as an increase in third decade cargoes. Rates for an Indonesia/Japan run basis 80 kt are hovering around w100 to w102.5, while rates for the AG/East route basis 80 kt stand at w115. Reflecting firmer owner sentiment, TD14 inched up steadily w-o-w to w100.78 which translates into daily earnings of around $8,700/day. At least three Aframaxes…

Asia's fuel oil prices continued their downward trend towards new seven-year lows and at levels not seen since early 2005 amid a growing global oil glut that saw benchmark crude prices extend their losses for the 7th session and nearing their eleven-year trough. The contango curve for the more actively traded 380-cst fuel widened while its differentials deteriorated after Monday trading. Conversely, the contango curve for the 180-cst fuel oil narrowed and its differentials improved. "Seems like the downside is getting limited," said one Singapore-based trader. Bunker sales rose markedly for the month of November in Singapore, data from the Maritime and Port Authority of Singapore (MPA) showed…

Record high stocks of fuel oil in Singapore are pushing traders to store the shipping and feedstock fuel into tankers temporarily as demand slows regionally. At least seven very large crude carriers (VLCCs) have been provisionally fixed to store fuel oil on short-term time charters, traders and shipbrokers said. Lower oil prices have boosted refinery profits over most of this year, in turn driving refiners to maximise run rates and increase the supply of fuel oil in the region, traders said. Traders are also taking advantage of cheaper freight rates and a steep contango where prices of cargoes loading in the current month are cheaper than those loading in forward months.

Over $750 million worth of fuel oil traded 1st week of June. Trading frenzy leads to record price swing. Major commodity houses are betting against each other on the direction of fuel oil in Singapore, the world's largest market for shipping fuel, in a clash that has led to a record price swing and is set to smash monthly trading levels. More than $750 million of physical cargoes have been traded in the first week of June during an end-of-day pricing window, accounting for about 60 percent of Singapore's average monthly sales of the fuel and creating logistics challenges at the port. Strong buying has been led by Swiss-based Glencore and Mercuria, China's PetroChina, and oil major BP, daily trade data shows.

Iran is sidestepping Western sanctions and managing to sell hundreds of thousands of tonnes of fuel oil every month through companies based in the U.S.-allied United Arab Emirates, trading sources told Reuters. The U.S. and EU sanctions that came into force in 2012 prohibit the import, purchase and transport of Iranian petroleum products to pressure Tehran to halt its disputed nuclear programme. Washington has also pressed its allies around the world to clamp down on the shipping of Iranian oil products. But Tehran has been using innovative methods to circumvent the restrictions, several Middle East-based trading sources said. They include tankers switching off their tracking systems…

OW Bunker, a physical distributor and reseller of marine fuels, announced the launch of a physical distribution operation in Australia. The move is part of OW Bunker’s strategy to further expand the company’s global physical distribution presence in key locations for customers, ensuring end-to-end quality in the services and products that it provides. OW Bunker has leased a fuel oil tank in Port Kembla, New South Wales. The company will provide vessels with a full range of products including RMG 380 cSt and RME 180 cSt fuel oil ex-pipe and DMA gas oil by road tanker.

The cash premium of the benchmark 380-cst fuel oil grade firmed for the fourth straight session on Wednesday, underpinned by lower supply in the region in early April. The 380-cst cash premium rose 76 percent or close to $1 a tonne to a two-week high of $2.22 a tonne, Reuters data showed. this period has provided some support for the 380-cst market. Around 4.17 million tonnes of fuel oil will arrive in April from the West, of which only an estimated 950,000 tonnes or just 20 percent of the total, will make a landfall in the first 10 days of the month, Reuters reported earlier. On the other hand, demand from southeast Asia is also set to increase…

OW Bunker announced that it has entered into agreements with the Rubis Tank Terminal in Rotterdam and the Vesta Tank Terminal in Antwerp, to allow for increased access and guaranteed supply at key bunkering ports. The investment in direct supply facilities comes in response to increasing demand for RMK 1 percent 500 cst fuel oil, a cost-efficient low sulphur fuel, which offers savings for operators transiting within the European ECA. OW Bunker Netherlands' exclusive contract with the 72,000-cubic-meter Rubis Tank Terminal in Rotterdam will support the supply of all grades of marine fuel on both spot and contract basis, and will guarantee supply of RMK 1 percent 500 cst fuel oil.

Power Research Inc. (PRI) is a manufacturer of industrial grade fuel treatments designed to treat heavy fuel oil, diesel and gasoline. Founded in 1985, PRI chemistries incorporate proprietary thermal stability technologies that permit cleaner combustion, reduced emissions, and prevention of deposits on engine components and boiler tubes. PRI offers PRI-R, a heavy fuel oil treatment that overcomes operability issues associated with carbon, vanadium, sulfur and sludge. First, PRI-R is a maintenance product. PRI-R has been proven to prevent carbon and vanadate deposits results in extended time between component overhauls, hence providing added value and reliability to our vessel owners, increasing bottom line profitability.

The Singapore bunker fuel market is coming under mounting pressure from arrivals of arbitrage cargoes of high-viscosity fuel oil in January and February, traders said. About 620,000 tons of fuel oil of between 380 and 700 viscosity are scheduled to arrive in Singapore between now and early February, they said. The rising supplies have led to a widening of the spread between 180-cst and 380-cst fuel oil to about $7 to $7.5 per ton against the more usual $4 to $6, traders said. The arbitrage cargoes were sourced from several countries including Venezuela, traditional supplier Saudi Arabia and regional producer India. Two Japanese traders were heard moving three 80…

According to reports, Neptune Associated Shipping, expects to move a damaged tanker into dry dock later today after completing a ship-to- ship transfer of around 3,000 metric tons of marine fuel from the stricken vessel. A Thailand -registered freighter, MV Hermion, collided with Neptune's Neptank VII, a Singapore -registered marine fuel, or bunker, supply tanker in the early hours of Wednesday rupturing one of its cargo tanks, spilling 300 tons of 380 cst fuel oil.