BUNKERWIRE
Volume 39 / Issue 185 / Monday, September 21, 2015
Arab Gulf ($/mt) (PGB page 2850)
Kuwait
Fujairah
Khor Fakkan
Mumbai
IFO 380 CST
PUAEY00237.50-238.50
PUAXP00237.50-238.50
PUAEX00237.50-238.50
AASSH00249.00-250.00
mid change
238.000-2.000
238.000-2.000
238.000-2.000
249.500-3.000
IFO 180 CST
PUACP00238.50-239.50
PUAXQ00238.50-239.50
PUACO00238.50-239.50
AASSG00258.00-259.00
mid
change
Marine gasoil
239.000-2.000AAXCV00624.00-625.00
239.000-2.000AARKH00624.00-625.00
239.000-2.000AARKI00624.00-625.00
258.500-3.000AASSI00669.00-670.00
mid
change
624.500 0.000
624.500 0.000
624.500 0.000
669.500-5.000
East Asia ($/mt) (PGB page 2850)
IFO 380 CST
mid
change
IFO 180 CST
mid
change
Marine diesel
mid
change
Marine gasoil
mid
Delivered
PUAFT00238.00-239.00 238.500-1.500
PUADW00245.00-246.00 245.500-1.500AALMZ00444.00-445.00
Singapore
Japan
PUAEV00266.00-267.00 266.500-3.000
PUACK00272.00-273.00 272.500-3.000
POACI00401.00-402.00 401.500-3.000
West Japan
AARJZ00271.50-272.50 272.000-3.000
AARJY00277.50-278.50 278.000-3.000
AARKA00405.00-406.00 405.500-3.000
South Korea
PUAFR00261.00-262.00 261.5000.000
PUADT00279.00-280.00 279.500 0.000AAVBN00444.00-445.00
Hong Kong
PUAER00243.00-244.00 243.500-4.000
PUACC00250.00-251.00 250.500-4.000AATXL00452.00-453.00
Shanghai
AARKD00250.00-251.00 250.500-5.000
AARKC00275.00-276.00 275.500-4.000AARKE00556.00-557.00
Sydney
PUAEA00389.00-390.00 389.500-1.500AARKF00584.50-585.50
Melbourne
PUAWL00386.00-387.00 386.500-1.500
AARKG00598.50-599.50
change
444.500 0.000
444.500 0.000
452.500-3.000
556.500-3.000
585.000 0.000
599.000 0.000
IFO 500 CST
Singapore
AAVUO00233.50-234.50 234.000-1.000
Ex-wharf
IFO 500 CST
AAFER00235.00-236.00 235.500-2.000
AAFET00242.00-243.00 242.500-2.000
AAVUP00231.00-232.00 231.500-1.000
Singapore
GLOBAL FUEL OIL CRACKS
10
DELIVERED HSFO 380 CST, DATE
($/barrel)
700
Contents
($/mt)
5
0
Cash 380 CST Singapore
3.5% FOB Rdam barge
No.6 USGC 3% Residual Fuel
-5
650
600
-10
550
-15
-20
31-Jul 13-Aug 24-Aug 06-Sep 19-Sep 02-Oct 15-Oct 26-Oct
Source: Platts
www.platts.com
500
Singapore
Source: Platts
Fujairah
Hong Kong
Japan
Prices
Arab Gulf ($/mt)
East Asia ($/mt)
Northern Europe ($/mt)
Mediterranean, Black Sea and
Africa ($/mt)
US and Canada ($/mt)
South America ($/mt)
Posted Prices ($/mt)
Cargo prices ($/mt)
2
7
8
9
9
Market commentary
Asia, Middle East
North Asia
3
3
1
1
2
Northwest Europe 5
Mediterranean, Africa
6
US6
Latin America
8
News
East-West FO swap spread
narrowest on record on
weak Singapore market
Russian fuel oil exports
in July up 5.6% month
on month to 4.4 mil mt
Taiwan’s CPC halts bunker
operations at Suao,
Hualien on Typhoon Goni
ShIPPING
9
10
10
BUNKERWIRE
Monday, September 21, 2015
Market commentary
Asia, Middle East (PGB page 2898)
Prices of ex-wharf and delivered 380 CST fuel oil in Singapore
bunker fuel market fell Friday, tracking weaker physical fuel
oil cargo prices. During the hour-long Platts Market on Close
assessment process, ICE October Brent crude futures
climbed 27 cents/b to $46.41/b at 0930 GMT, close of Asian
trade. In Singapore, buyers were on the sidelines, as they
waited for offers to fall further, trade sources said. On the
ex-wharf front, offers were around $227-$230/mt. A trade for
4,000 mt was heard at $227/mt. The ex-wharf 380 CST grade
was assessed at $227/mt, down $7.50/mt day on day. On the
delivered front, offers for the 380 CST grade were heard at
around $231-$235/mt. The delivered 380 CST grade was
assessed at $230/mt, down $7/mt day on day. Supply of 500
CST grade for both ex-wharf and delivery was tight, trade
sources said. Offers for the ex-wharf 500 CST ranged from
$220-$222/mt, while one offer for the delivered grade was
heard at around $226/mt. The delivered 500 CST grade was
assessed at $225.50/mt, down $4/mt day on day, while the
ex-wharf grade was assessed at $219.50/mt, down $7.50/mt.
In Fujairah, offers for 380 CST grade were heard at $230$240/mt during the MOC process. The Fujairah 380 CST
grade fell $10/mt from Thursday to be assessed at $229.50/
mt. Marine gasoil offers were heard at around $660-$720/mt.
The grade was assessed flat day on day at $641.50/mt. In
Mumbai, demand stayed weak. Offers were heard at around
$272-$265/mt. Mumbai 380 CST delivered was assessed $7/
mt lower day on day at $264.50/mt.
Goni. In Hong Kong, traders reported a steady to slightly
firmer market on the back of cargo delays, which has
worked to tighten the supply situation. But this is expected
to ease next week when deliveries arrive.
North Asia
Bunker FO 380 CST Dlvd Hong Kong assessment
rationale: (PGB page 2880) The Hong Kong 380 CST bunker
fuel was assessed at $247/mt Friday. The assessment took
into consideration the $7.25/mt fall in September Singapore
380 CST high sulfur fuel oil swaps in the absence of any
bids or offers establishing value.
Market analysis: (PGB page 2899) Bunker fuel traders in
Japan and South Korea were watching typhoons Goni and
Atsani Friday, with some expecting operational issues over
the weekend or early next week. No ports had yet closed in
the countries. “Bunker operations will surely have some
impact due to high water levels,” a trader said Friday.
“Barges will have difficulty loading bunker fuel at berths,”
he said. Another source said high tides have caused traders
to scramble to make alternative arrangements. “Demand
for bunker fuel in Japan is good, and [western Japan] is
quite tight,” a trader said. “As for Tokyo Bay, there are
availabilities, although the typhoon is making the situation
difficult,” he said. In South Korea, sources said bunker
operations were continuing as normal Friday. “If there is
any impact, it would be next week, maybe Monday or
Tuesday,” a market participant said. “We cannot advise if
there will be port closures or not yet, but maybe it will be
decided over the weekend,” the source said. To date, only
Taiwan’s state-owned refiner CPC has halted bunker
operations at its Suao and Hualien ports ahead of Typhoon
The above commentary applies to the following market data code:
PUAER00
Bunker FO 380 CST Dlvd South Korea assessment
rationale: (PGB page 2880) The South Korea 380 CST bunker
fuel grade was assessed at $249.50/mt Friday. The
assessment took into consideration the $7.25/mt fall in
September Singapore 380 CST high sulfur fuel oil swaps in
the absence of any bids or offers establishing value.
The above commentary applies to the following market data code:
PUAFR00
Bunker FO 380 CST Dlvd Japan assessment rationale:
(PGB page 2880) The Japan 380 CST bunker fuel grade was
assessed at $259.50/mt Friday. The assessment took into
consideration the $7.25/mt fall in September Singapore 380
Northern Europe ($/mt) (PGB page 1850 & 1870)
IFO 380 CST
mid
change
Delivered
Rotterdam
PUAFN00 219.00-220.00219.500 -2.000
PUADN00
Antwerp
PUAEE00 219.00-220.00219.500 -2.000
PUABG00
Dunkirk
PUAEL00 273.00-274.00273.500 -2.000
PUABT00
Hamburg
PUAEQ00 227.00-228.00227.500 -5.000
PUABZ00
Gothenburg
AAVVX00 229.00-230.00229.500 -1.000
AAVVY00
Great Belt
AAHTG00 237.00-238.00237.500 0.000
AAHTE00
Gdansk
AAHTA00 240.00-241.00240.500 0.000
AAHSY00
St Petersburg
AAHSU00 160.00-161.00160.500 0.000
AAHSS00
IFO 180 CST
mid
245.00-246.00245.500
245.00-246.00245.500
308.00-309.00308.500
260.00-261.00260.500
242.00-243.00242.500
250.00-251.00250.500
261.00-262.00261.500
175.00-176.00175.500
change
-2.000
-2.000
-2.000
-5.000
-1.000
0.000
0.000
0.000
IFO 500 CSTLS 0.1% Bunker
AAXRM00 212.00-213.00212.500 -4.000
Rotterdam
Rotterdam LS 0.1%
AARBF00390.000
-5.000
Copyright © 2015 McGraw Hill Financial
2
Marine gasoil
AARTG00413.00-414.00
AARSI00413.00-414.00
POABT00520.00-521.00
AARSZ00450.00-451.00
AAVWC00445.00-446.00
AARSX00482.00-483.00
AARSP00468.00-469.00
AARTJ00430.00-431.00
mid
change
413.500 -9.000
413.500 -9.000
520.500 -9.000
450.500 -7.000
445.500-10.000
482.500 0.000
468.500 0.000
430.500 0.000
BUNKERWIRE
Monday, September 21, 2015
CST high sulfur fuel oil swap in the absence of any bids or
offers establishing value.
The above commentary applies to the following market data code:
PUAEV00
North Asia Bunker FO bids/offers/trades: (PGB page 2881)
■■
Japan 380 CST bunker fuel: No bids/offers/trades.
■■
South Korea 380 CST bunker fuel: No bids/offers/trades.
■■
Hong Kong 380 CST bunker fuel: Bid: Bunker : 380CST:
Chimbusco Pan Nation bids 500mt at $242.00/mt
delivered August 24-28. No offers. No trades.
North Asia Bunker FO exclusions: (PGB page 2881) No market
data was excluded from the August 21 assessment process.
Northwest Europe (PGB page 1898)
Northwest European high sulfur fuel oil prices remained on
a downward trend Friday as crude came under renewed
selling pressure. Rotterdam 380 CST high sulfur fuel oil was
assessed $12/mt lower at $210.50/mt, while marine gasoil
fell $20/mt to $405.50/mt. “It is a very calm market. Almost
no inquiries, especially for fuel oil,” a trader said. “We are
quite committed up until August 27. A lot of today’s
enquiries have been for prompt deliveries,” a second trader
said. The RMK 500 CST discount to RMG 380 CST basis ARA
was assessed unchanged at $10/mt. In Hamburg, HSFO 380
CST fell $5/mt to $221.50/mt. “Avails are tight in Hamburg
until the end of this month...some refineries are producing
bitumen instead of high sulfur fuel oil...three suppliers are
still offering some HSFO 380 CST,” a trader said, adding
demand had largely been low over the past four weeks.
Mediterranean, Africa (PGB page 1899)
Mediterranean bunker prices fell further Friday on
continued Brent crude weakness. Gibraltar 380 CST high
sulfur fuel oil fell $4/mt to $239.50/mt, while marine gasoil
eased $5/mt to $481.50/mt. “It has been reasonably busy
today. Gibraltar is getting a bit tight for prompt supplies, so
levels are not as soft as crude would indicate,” a trader said.
As a result, Algeciras 380 CST HSFO was assessed $1/mt
cheaper than Gibraltar at $238.50/mt. “It looks like buyers
booked [bunkers] in Gib a bit more lately. It happens
sometimes,” a trader said. “Yes, Gibraltar is a bit tight
around some days according to a few traders,” a buyer said.
In Novorossiisk, 380 CST HSFO prices were steady at
$200.50/mt. In Istanbul there was decent demand, with
380 CST HSFO prices were down $3/mt to $257.50/mt.
US (PGB page 898)
Bunker fuel prices in US and Canadian ports fell Friday as
buyers remained sidelined as Brent crude futures and fuel
oil prices continued falling. The steepest fall were seen in
Seattle, San Francisco and Vancouver. In Seattle, IFO 380
CST was assessed at $276/mt ex-wharf, a $16.50 price
decrease from Thursday. The assessment was based on a
deal reported at $277/mt ex-wharf for 540 mt for August
27-28, and fixtures done overnight at $260/mt ex-wharf.
The deals were unconfirmed. In the competing port of
Vancouver, one Canadian supplier said he lowered his offers
based on activity in the port of Seattle. “I lost a ship
Mediterranean, Black Sea and Africa ($/mt) (PGB page 1860)
IFO 380 CST
mid
change
Delivered
Gibraltar
AAKAB00 239.00-240.00239.500 -1.000
AAJZZ00
Algeciras
PUAFA00 239.00-240.00239.500 -1.000
PUACT00
Las Palmas/Tenerife
PUAFB00 249.00-250.00249.500 -5.000
PUACU00
Malta
PUBFH00 236.00-237.00236.500 +5.000
PUBFG00
Novorossiisk
AASHF00 175.00-176.00175.500 0.000
AASHE00
Istanbul
PUAET00 263.00-264.00263.500 +5.000
PUACG00
Suez
PUAFU00 280.00-281.00280.500 +1.000
PUADY00
Piraeus
PUAFL00 246.00-247.00246.500 +5.000
PUADK00
Piraeus LS 1%
AARTF00 285.00-286.00285.500+10.000
AARTE00
IFO 180 CST
mid
change
266.00-267.00266.500 -1.000
266.00-267.00266.500 -1.000
270.00-271.00270.500 -5.000
255.00-256.00255.500 +8.000
205.00-206.00205.500 0.000
280.00-281.00280.500 +2.000
330.00-331.00330.500 +1.000
268.00-269.00268.500 +5.000
303.00-304.00303.500 +10.000
Marine gasoil
AARSU00467.00-468.00
AARSH00467.00-468.00
AARTB00465.00-466.00
PBADH00444.00-445.00
AASHG00463.00-464.00
POACF00490.00-491.00
POADS00695.00-696.00
POADG00458.00-459.00
Ex-wharf
Fos
PUAEO00 247.00-248.00247.500 0.000
PUABX00
264.00-265.00264.500 -8.000
POABX00462.00-463.00
Augusta
PUAED00 255.00-256.00255.500 +4.000
PUABF00
276.00-277.00276.500 +4.000
PBABJ00504.00-505.00
Ceuta
PUAEG00 251.00-252.00251.500 +6.000
PUABL00
269.00-270.00269.500 +6.000
AARSK00475.00-476.00
Genoa
PUAFD00 244.00-245.00244.500 0.000
PUACX00
265.00-266.00265.500 0.000
PBABK00493.00-494.00
Genoa LS 1%
AARSR00 267.00-268.00267.500 +4.000
AARSQ00
294.00-295.00294.500 +4.000
Trieste
PUAXT00 259.00-260.00259.500 0.000
PUAXU00
280.00-281.00280.500 0.000
PBABQ00506.00-507.00
Durban PUABR00 245.00-246.00245.500 0.000
AAXDB00580.00-581.00
Dakar
POABP00570.00-571.00
Copyright © 2015 McGraw Hill Financial
3
mid
change
467.500 -1.000
467.500 -1.000
465.500 -5.000
444.500+11.000
463.500 -2.000
490.500 0.000
695.500 +1.000
458.500 +8.000
462.500
504.500
475.500
493.500
-8.000
+7.000
0.000
+2.000
506.500 +3.000
580.500 0.000
570.500+20.000
BUNKERWIRE
Monday, September 21, 2015
US and Canada ($/mt)
IFO 380 CST
mid
change
IFO 180 CST
mid
change
Marine gasoil
mid
change
Delivered (PGB page 860)
Montreal
Montreal LS 1%
New York
New York LS 1%
Philadelphia
Philadelphia LS 1%
Charleston
Charleston LS 1%
Norfolk
Norfolk LS 1%
New Orleans
New Orleans LS 1%
Houston
Houston LS 1%
Los Angeles
Los Angeles LS 1%
San Francisco
San Francisco LS 1%
Portland
Portland LS 1%
Seattle
Seattle LS 1%
Vancouver
Vancouver LS 1%
AARUP00257.95-258.05
AAWQI00257.95-258.05
AAGQN00244.60-250.65
AAWSS00244.60-250.65
AAGRF00258.00-259.00
AAWSW00258.00-259.00
AAMNV00321.00-328.50
AAWLK00321.00-328.50
AAGQW00272.50-273.50
AAWSO00272.50-273.50
AAGQE00224.85-227.55
AAWRY00224.85-227.55
AAGPD00219.00-228.80
AAWLO00219.00-228.80
AAGPM00234.75-239.75
AAWLS00234.75-239.75
AAGRX00275.25-280.25
AAWTE00275.25-280.25
AAGRO00345.50-352.00
AAWTA00345.50-352.00
AAGSG00285.00-289.00
AAWTK00285.00-289.00
AAJKU00287.00-289.00
AAWTO00287.00-289.00
258.000 -4.500
258.000 -4.500
247.625 -4.500
247.625 -4.500
258.500 -4.500
258.500 -4.500
324.750 -4.500
324.750 -4.500
273.000 -4.500
273.000 -4.500
226.200 -8.500
226.200 -8.500
223.900 -8.500
223.900 -8.500
237.250 -2.000
237.250 -2.000
277.750-20.000
277.750-20.000
348.750 -6.000
348.750 -6.000
287.000-16.500
287.000-16.500
288.000-13.000
288.000-13.000
AARUQ00287.95-288.05
AAWLX00287.95-288.05
AAGQK00294.60-300.65
AAWSQ00294.60-300.65
AAGRC00308.00-309.00
AAWSU00308.00-309.00
AAMNY00366.00-373.50
AAWLI00366.00-373.50
AAGQT00322.50-323.50
AAWSM00322.50-323.50
AAGQB00274.85-277.55
AAWQO00274.85-277.55
AAGPA00269.00-278.80
AAWLM00269.00-278.80
AAGPJ00284.75-289.75
AAWLQ00284.75-289.75
AAGRU00315.25-320.25
AAWTC00315.25-320.25
AAGRL00380.50-387.00
AAWSY00380.50-387.00
AAGSD00335.00-339.00
AAWTI00335.00-339.00
AAJKW00337.00-339.00
AAWTM00337.00-339.00
288.000 -4.500
288.000 -4.500
297.625 -4.500
297.625 -4.500
308.500 -4.500
308.500 -4.500
369.750 -4.500
369.750 -4.500
323.000 -4.500
323.000 -4.500
276.200 -8.500
276.200 -8.500
273.900 -8.500
273.900 -8.500
287.250 -2.000
287.250 -2.000
317.750-20.000
317.750-20.000
383.750 -6.000
383.750 -6.000
337.000-16.500
337.000-16.500
338.000-13.000
338.000-13.000
AAWWZ00599.95-600.05 600.000-9.000
Ex-wharf (PGB page 862)
Montreal
Montreal LS 1%
New York
New York LS 1%
Philadelphia
Philadelphia LS 1%
Charleston
Charleston LS 1%
Norfolk
Norfolk LS 1%
Savannah
Savannah LS 1%
New Orleans
New Orleans LS 1%
Houston
Houston LS 1%
Los Angeles
Los Angeles LS 1%
San Francisco
San Francisco LS 1%
Portland
Portland LS 1%
Seattle
Seattle LS 1%
Vancouver
Vancouver LS 1%
PUAFE00252.95-253.05
AAWQJ00252.95-253.05
PUAFI00239.95-240.05
AAWST00239.95-240.05
PUAFJ00249.95-250.05
AAWSX00249.95-250.05
AAMOE00314.45-314.55
AAWLL00314.45-314.55
PUAFG00264.45-264.55
AAWSP00264.45-264.55
AAXJR00280.95-281.05
AAWTH00280.95-281.05
PUAFH00215.95-216.05
AAWRZ00215.95-216.05
PUAES00210.95-211.05
AAWLP00210.95-211.05
PBAAP00226.45-226.55
AAWLT00226.45-226.55
PBADF00266.95-267.05
AAWTF00266.95-267.05
PBAAX00336.45-336.55
AAWTB00336.45-336.55
PBABB00275.95-276.05
AAWTL00275.95-276.05
AAIAT00281.95-282.05
AAWTP00281.95-282.05
253.000 -4.500
253.000 -4.500
240.000 -4.500
240.000 -4.500
250.000 -4.500
250.000 -4.500
314.500 -4.500
314.500 -4.500
264.500 -4.500
264.500 -4.500
281.000 -3.000
281.000 -3.000
216.000 -8.500
216.000 -8.500
211.000 -8.500
211.000 -8.500
226.500 -2.000
226.500 -2.000
267.000-20.000
267.000-20.000
336.500 -6.000
336.500 -6.000
276.000-16.500
276.000-16.500
282.000-13.000
282.000-13.000
PUACY00282.95-283.05
AAWQH00282.95-283.05
PUADE00289.95-290.05
AAWSR00289.95-290.05
PUADH00299.95-300.05
AAWSV00299.95-300.05
AAMOH00359.45-359.55
AAWLJ00359.45-359.55
PUADA00314.45-314.55
AAWSN00314.45-314.55
AAXJS00330.95-331.05
AAWTG00330.95-331.05
PUADC00265.95-266.05
AAWRX00265.95-266.05
PUACE00260.95-261.05
AAWLN00260.95-261.05
PUACR00276.45-276.55
AAWLR00276.45-276.55
PUBCZ00306.95-307.05
AAWTD00306.95-307.05
PUADJ00371.45-371.55
AAWSZ00371.45-371.55
PUADP00325.95-326.05
AAWTJ00325.95-326.05
AAIAV00331.95-332.05
AAWTN00331.95-332.05
283.000 -4.500
283.000 -4.500
290.000 -4.500
290.000 -4.500
300.000 -4.500
300.000 -4.500
359.500 -4.500
359.500 -4.500
314.500 -4.500
314.500 -4.500
331.000 -3.000
331.000 -3.000
266.000 -8.500
266.000 -8.500
261.000 -8.500
261.000 -8.500
276.500 -2.000
276.500 -2.000
307.000-20.000
307.000-20.000
371.500 -6.000
371.500 -6.000
326.000-16.500
326.000-16.500
332.000-13.000
332.000-13.000
AAWYS00594.95-595.05 595.000-9.000
Copyright © 2015 McGraw Hill Financial
4
AAWYB00469.10-475.15 472.125-9.000
AAWYD00482.50-483.50 483.000-9.000
AAWWV00563.00-570.50 566.750-9.000
AAWYC00481.00-482.00 481.500
-20.500
AAWYA00447.85-450.55 449.200-9.000
AAWWX00457.00-466.80 461.900-9.000
AAWWY00497.25-502.25 499.750
-20.000
AAWYF00651.25-656.25 653.750-4.500
AAWYE00743.00-749.50 746.250-4.500
AAWYL00626.50-630.50 628.500-4.500
AAWYM00654.50-656.50 655.500-4.500
AAWYU00464.45-464.55 464.500-9.000
AAWYW00474.45-474.55 474.500-9.000
AAWYP00556.45-556.55 556.500-9.000
AAWYV00472.95-473.05 473.000
-20.500
AAWZF00560.95-561.05 561.000-9.000
AAWYT00438.95-439.05 439.000-9.000
AAWYQ00448.95-449.05 449.000-9.000
AAWYR00488.95-489.05 489.000
-20.000
AAWZE00642.95-643.05 643.000-4.500
AAWYX00733.95-734.05 734.000-4.500
AAWZG00617.45-617.55 617.500-4.500
AAWZH00649.45-649.55 649.500-4.500
BUNKERWIRE
Monday, September 21, 2015
overnight in Seattle at a very low level,” the supplier said.
IFO 380 CST Vancouver was assessed down $13 to $282/mt
ex-wharf, based on notional offers at $284/mt ex-wharf and
weak demand fundamentals. Further south in San
Francisco, RMG 380 prices were assessed $17 lower, based
on price indications and a deal closed overnight in the
competing Bay Area port of Oakland at $230/mt ex-wharf.
“Oakland and San Francisco are finally descending to Asian
bunkers levels,” a West Coat bunker supplier said. Platts
assessed Friday, high-sulfur bunker fuel prices in Singapore
at $227/mt ex-wharf, $7.50 lower from Thursday. High
availability of fuel oil stocks in the Singaporean market has
put pressure on the bunker market in that country.
According to market sources, due to competitive prices in
Singapore, vessels that typically resupply on the US West
Coast have been loading small volumes and inquiries have
diminished. “On Thursday night there were two vessels
asking for indications, this morning there was zero
demand,” the West Coast supplier said. At the port of Los
Angeles RMG 380 was assessed at $226.50/mt ex-wharf,
down $2, based on activity During the Platts Market on
Close assessment process. Aegean offered 1,000 mt of IFO
380 CST Los Angeles at $226/mt ex-wharf for August 24-31.
Aegean gradually lowered its offered to $215/mt and Phillips
66 bought from Aegean at that price. Separately and
simultaneously, Chevron placed bid at $210/mt ex-wharf for
the same product, the same volume and same laycan.
Chevron gradually raised its bid to $226/mt ex-wharf, but no
sellers corresponded at that price.
Latin America (PGB page 899)
High-sulfur bunker fuel prices dropped across Latin
America on Friday, as suppliers lowered their offers in an
attempt to reduce high inventory levels, while declines in
ICE Brent crude futures and fuel oil prices added
downward pressure. The steepest price decrease was
seen at the port of Montevideo, Uruguay, where Platts
assessed RMG 380 $21 lower to $433/mt delivered,
based on price indications and ample supplies. Farther
north, the same product in the port of Cartagena,
Colombia, was assessed at $298/mt delivered, a fall of
$9, based on lower notional offers from suppliers. “I have
to sell my inventories and for that reason I had to offer
RMG 380 in the low-$300/mt delivered, although the real
price should be $318-325/mt delivered,” a Colombian
trader said. According to the trader, demand has fallen in
the Colombian port as most vessels have been
resupplying fuel in Panama. “This week only five vessels
were seen in Cartagena,” the trader said. At the port of
Balboa, Panama, strong competition for business
continued and notional offers from suppliers and traders
US and Canada (continued)
Ex-wharf (PGB page 862)
LS 0.1% Bunker
mid
change
New York LS 0.1%
AANBF00 417.500
-7.000
Houston LS 0.1%
AATBF00 405.500
-9.500
US and Canada barging rates (PGB page 866)
New York
Philadelphia
Montreal
Charleston
Norfolk
Houston
New Orleans
Los Angeles
San Francisco
Seattle
Portland
Vancouver
($/mt)
AARUA004.60-10.65
AARUB008.00-9.00
AARUC004.95-5.05
AARUD006.50-14.00
AARUE008.00-9.00
AARUF008.00-17.80
AARUG008.85-11.55
AARUH008.25-13.25
AARUI008.25-13.25
AARUJ009.00-13.00
AARUK009.00-15.50
AARUL005.00-7.00
mid
change
7.625 0.000
8.500 0.000
5.000 0.000
10.250 0.000
8.500 0.000
12.900 0.000
10.200 0.000
10.750 0.000
10.750 0.000
11.000 0.000
12.250 0.000
6.000 0.000
for IFO 380 CST grades were talked at $230-$235/mt
ex-wharf in the morning, with no deals confirmed at
those levels. In the afternoon, Maersk bought 800 mt of
that product at $216/mt ex-wharf at the port of
Manzanillo, Panama, for August 23-24. However, the deal
could not be confirmed with Maersk’s counterparty.
Based on price indications, IFO 380 CST Balboa was
assessed down $6 to $225/mt ex-wharf.
South America ($/mt) (PGB page 870)
Delivered
Buenos Aires
El Callao
Valparaiso
Guayaquil
Libertad
Cartagena
Montevideo
Ex-wharf
Balboa
Balboa LS 1%
Cristobal
Cristobal LS 1%
Copyright © 2015 McGraw Hill Financial
IFO 380 CST
mid
change
PUAYH00 293.95-294.05294.000
PUAYP00 367.95-368.05368.000
PUAYR00 347.95-348.05348.000
AAJOC00 300.45-300.55300.500
PUAYT00 299.45-299.55299.500
-5.500
-2.000
-4.500
-4.500
-4.500
AAJOA00 297.95-298.05298.000 -9.000
PUBAQ00 432.95-433.05433.000-21.000
PUAYG00
PUAYO00
PUAYQ00
AAJOE00
PUAYS00
PUBAD00 224.95-225.05225.000
AAWWQ00 224.95-225.05225.000
PUAEF00 224.95-225.05225.000
AAWWO00 224.95-225.05225.000
5
-6.000
-6.000
-6.000
-6.000
IFO 180 CST
mid
change
Marine gasoil
mid
change
-5.500
-2.000
-2.500
-4.500
-4.500
-9.000
-1.000
PBABR00840.95-841.05
PBABW00866.95-867.05
PBABX00813.45-813.55
AAJOG00883.45-883.55
PBABY00882.45-882.55
PUBAE00
PUBAR00
343.95-344.05344.000
417.95-418.05418.000
387.95-388.05388.000
340.45-340.55340.500
339.45-339.55339.500
337.95-338.05338.000
482.95-483.05483.000
841.000
867.000
813.500
883.500
882.500
PBACW00682.95-683.05 683.000
PBADA00756.95-757.05 757.000
PUBAC00
AAWWP00
PUABJ00
AAWWN00
274.95-275.05275.000
274.95-275.05275.000
274.95-275.05275.000
274.95-275.05275.000
-6.000
-6.000
-6.000
-6.000
PBACU00518.95-519.05 519.000 -3.000
-4.500
-1.000
-4.500
-4.500
-4.500
-2.000
-3.500
POABJ00518.95-519.05 519.000 -3.000
BUNKERWIRE
Monday, September 21, 2015
Posted Prices ($/mt)
News (PGB page 100)
Petrobras Bunker Postings (Effective date: August 21, 2015) (PGB page 876)
IFO 380 CST
Paranagua
PUAYU00250.00-251.00
Santos
PUAYK00240.00-241.00
Rio de Janeiro
PUAYV00235.00-236.00
Salvador
PUAYN00273.00-274.00
Marine gasoil
Paranagua
PBABS00730.00-731.00
Santos
PBABT00720.00-721.00
Rio de Janeiro
PBABU00692.00-693.00
Salvador
PBABV00745.00-746.00
mid
change
IFO 180 CST
250.500 -8.000
PUAYI00268.50-269.50
240.500 -8.000
PUAYJ00261.50-262.50
235.500 -8.000
PUAYL00258.50-259.50
273.500 -8.000
PUAYM00294.50-295.50
mid
change
730.500 0.000
720.500 0.000
692.500 0.000
745.500 0.000
mid
change
269.000 -8.000
262.000 -8.000
259.000 -8.000
295.000 -8.000
Saudi Aramco (Effective date: Aug 21, 2015) (PGB page 2870)
IFO 380 CST IFO 180 CST
Jeddah,Yanbu,Rabigh
AALPU00
285 .00
PUACM00295.00
Dammam,Ras Tanura
AASFV00255.00 PUABN00260.00
Marine gasoil
MGOJY00695.00
MGORT00690.00
Chinese Petroleum Corp (Effective date: August 21, 2015) (PGB page 2860)
IFO 380 CST IFO 180 CST
Hualien, Suao
CB3AJ00285.000 CB1AK00285.000
Kaohsiung, Keelung, Taichung
CB3AK00279.000 CB1AL00281.000
Marine Fuel OilMarine Fuel Oil
MF-30MF-80
CB3BA00400.000 CB8BA00332.000
Hualien, Suao
Kaohsiung, Keelung, Taichung
CB3BB00398.000 CB8BB00329.000
Marine diesel
CBDAA00555.000
CBDAB00555.000
Marine gasoil
CBGAK00570.000
CBGAL00570.000
Cargo prices ($/mt) (PGB page 1890)
3.5% HSFO
mid
change
Gasoil 0.1%
mid
change
FOB Mediterranean cargo
PUAAZ00206.00-206.50 206.250-11.750
AAVJI00421.00-421.50 421.250 -17.750
CIF NWE cargo
PUABA00198.25-198.75 198.500 -9.000
AAYWS00436.75-437.25 437.000 -17.500
FOB Rotterdam barge
PUABC00205.25-205.75 205.500 -9.000
AAYWT00427.25-427.75 427.500 -18.500
any derivative work from and/or otherwise provide access to Data or any portion thereof
to any person (either within or outside your company including, but not limited to, via or
as part of any internal electronic system or Internet site), firm or entity, other than as
authorized by a separate license from Platts, including without limitation any subsidiary,
parent or other entity that is affiliated with your company, it being understood that any
approved use or distribution of the Data beyond the express uses authorized in this
paragraph above is subject to the payment of additional fees to Platts.
BUNKERWIRE
Volume 39 / Issue 185 / Monday, September 21, 2015
Editorial: Asia bunker fuel editor: +65-6530-6524; North Asia bunker fuel editor:
+65-6530-6587; Rajesh Nair, Managing Editor, Asia Pacific & Middle East Residual
Fuels: +65-6530-6574; Jonty Rushforth, Editorial Director, Asia & Middle East Oil
Markets: +65-6530-6581.
Client services information: North America: +1-800-PLATTS8 (+1-800-752-8878); direct:
+1-212-904-3070, Europe & Middle East: +44-20-7176-6111, Asia Pacific: +65-6530-6430,
Latin America: +54-11-4121-4810, E-mail: [email protected]
Restrictions on Use: You may use the prices, indexes, assessments and other related
information (collectively, “Data”) in this publication only for your personal use or, if your
company has a license from Platts and you are an “Authorized User,” for your company’s
internal business. You may not publish, reproduce, distribute, retransmit, resell, create
Copyright © 2015 McGraw Hill Financial
6
Disclaimer: DATA IN THIS PUBLICATION IS BASED ON MATERIALS COLLECTED FROM
ACTUAL MARKET PARTICIPANTS. PLATTS, ITS AFFILIATES AND ALL OF THEIR THIRDPARTY LICENSORS DISCLAIM ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED,
INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS
FOR A PARTICULAR PURPOSE OR USE AS TO THE DATA, OR THE RESULTS OBTAINED BY
ITS USE OR AS TO THE PERFORMANCE THEREOF. A REFERENCE TO A PARTICULAR
INVESTMENT, SECURITY, RATING OR ANY OBSERVATION CONCERNING A SECURITY OR
INVESTMENT PROVIDED IN THE DATA IS NOT A RECOMMENDATION TO BUY, SELL OR
HOLD SUCH INVESTMENT OR SECURITY OR MAKE ANY OTHER INVESTMENT DECISIONS.
NEITHER PLATTS, NOR ITS AFFILIATES OR THEIR THIRD-PARTY LICENSORS GUARANTEE
THE ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE DATA OR ANY
COMPONENT THEREOF OR ANY COMMUNICATIONS, INCLUDING BUT NOT LIMITED TO
ORAL OR WRITTEN COMMUNICATIONS (WHETHER IN ELECTRONIC OR OTHER FORMAT),
WITH RESPECT THERETO.
East-West FO swap spread narrowest
on record on weak Singapore market
The price spread between FOB Singapore 180 CST high
sulfur fuel oil swap and FOB Rotterdam 380 CST CST
barge fuel oil, with maximum 3.5% sulfur, swap shrank to
its narrowest on record at Thursday’s Asian close, on
continued weakness in the Singapore fuel oil market. The
front-month East-West fuel oil swap spread was assessed
down 60 cents/mt day on day at $24.05/mt Thursday, the
lowest since the assessment was launched October 1,
2014, data showed. The FOB Singapore 180 CST HSFO
September swap was assessed at $246.25/mt Thursday,
down $11.75/mt day on day, while the FOB Rotterdam
barge fuel oil swap was at $222.20/mt as of 4:30 pm
Singapore time Thursday, down $11.15/mt day on day.
Demand from the end-user bunker fuel market in
Singapore has been weak since July this year, amid ample
supply -- both regional and from the West --with no
respite expected in the near-term, said industry sources
Friday. Western Arbitrage of the 380 CST HSFO grade into
Singapore is seen at about 4 million mt in September,
similar to August, they added. Demand for the 180 CST
ACCORDINGLY, ANY USER OF THE DATA SHOULD NOT RELY ON ANY RATING OR OTHER
OPINION CONTAINED THEREIN IN MAKING ANY INVESTMENT OR OTHER DECISION. PLATTS,
ITS AFFILIATES AND THEIR THIRD-PARTY LICENSORS SHALL NOT BE SUBJECT TO ANY
DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS OR DELAYS IN THE DATA. THE
DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN “AS IS” BASIS AND YOUR
USE OF THE DATA IS AT YOUR OWN RISK.
Limitation of Liability: IN NO EVENT WHATSOEVER SHALL PLATTS, ITS AFFILIATES OR
THEIR THIRD-PARTY LICENSORS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL,
PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF
PROFITS, TRADING LOSSES, OR LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN
ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT
LIABILITY OR OTHERWISE.
Copyright © 2015 McGraw Hill Financial. All rights reserved. No portion of this publication
may be photocopied, reproduced, retransmitted, put into a computer system or
otherwise redistributed without prior written authorization from Platts. Platts is a
trademark of McGraw Hill Financial. Information has been obtained from sources believed
reliable. However, because of the possibility of human or mechanical error by sources,
McGraw Hill Financial or others, McGraw Hill Financial does not guarantee the accuracy,
adequacy or completeness of any such information and is not responsible for any errors
or omissions or for results obtained from use of such information. See back of publication
invoice for complete terms and conditions.
BUNKERWIRE
Monday, September 21, 2015
HSFO grade for use as bunker fuel cutter stock has been
similarly weak, given there is so much bunker-ready fuel
oil available in the market, said sources. Reflecting ample
availability, fuel oil stocks in the city state rose to a
historical high of 28.259 million barrels, as of August 12, IE
Singapore data showed. For the week ended August 19,
though, stocks have declined 1.4% from the record high to
27.851 million barrels, data showed. On the other hand,
while the Rotterdam fuel oil market was also weak due to
oversupply, prices were supported mainly by a steady
crack spread. The crack spread between September Brent
swaps and September FOB Singapore 180 CST HSFO swap
was assessed at minus $8.55/b Thursday, down from
minus $7.497/mt a month ago. While the crack spread
between September Brent swap and September FOB
Rotterdam 380 CST barge fuel oil swap was assessed at
minus $12.34/mt Thursday, almost steady from minus
$12.53/mt assessed a month ago, data showed.
Russian fuel oil exports in July up
5.6% month on month to 4.4 mil mt
Russia’s July fuel oil exports rose 5.6% month on month
to 4.348 million mt, with domestic supplies growing
14.8% to 1.240 million mt, data from the Central Dispatch
Unit, the statistical arm of the energy ministry, showed
Friday. The increase came after a 14% month-on-month
Copyright © 2015 McGraw Hill Financial
7
drop in exports and a 4.7% drop in domestic deliveries in
June. River exports in June were curtailed by unusually
low water levels, while the higher export duty that month
made exporting less attractive, helping to reverse the
upward fuel oil exports dynamics seen earlier in the year.
A significant increase in deliveries to the domestic
market in July was supported by a seasonal increase in
demand for bunker fuel and bitumen. Following tax
changes in January, fuel oil production has been dropping
as a number of refineries have cut runs or process it
further into higher specification products.
Simultaneously, refined product exports have been rising
as the tax changes made deliveries to international
markets more attractive. Overall fuel oil production
amounted to 6.121 million mt in July, down 8.2% year on
year, according to energy ministry data.
Taiwan’s CPC halts bunker operations at
Suao, Hualien on Typhoon Goni
Taiwan’s state-owned refiner CPC has halted bunker
operations at Suao and Hualien ports ahead of Typhoon Goni.
“This is to inform you bunker operations at Suao and Hualien
are currently halted due to Typhoon Goni,” the marketing
business division of CPC Corp. said in an email obtained by
Platts Friday. “As for Keelung, Taichung and Kaohsiung ports,
bunker operations [are currently] normal,” it added. Taiwan’s
Central Weather Bureau has issued a heavy rain advisory for
Taitung and Pingtung counties, and Lanyu and Ludao islands.
The Japan Meteorological Agency expects Typhoon Goni to
brush the northern Philippines, head past the east coast of
Taiwan and on to Japan’s Ryukyu Islands. JMA at 0345 GMT
listed the storm’s intensity as very strong and said it is
moving slowly northwest with maximum wind speeds of 45
meters/second at the center and gusts of 65 m/s. CPC last
halted bunker operations at Suao and Hualien on August 6
due to Super Typhoon Soudelor. Taiwan’s state-owned refiner
CPC has halted bunker operations at Suao and Hualien ports
ahead of Typhoon Goni. “This is to inform you bunker
operations at Suao and Hualien are currently halted due to
Typhoon Goni,” the marketing business division of CPC Corp.
said in an email obtained by Platts Friday. “As for Keelung,
Taichung and Kaohsiung ports, bunker operations [are
currently] normal,” it added. Taiwan’s Central Weather Bureau
has issued a heavy rain advisory for Taitung and Pingtung
counties, and Lanyu and Ludao islands. The Japan
Meteorological Agency expects Typhoon Goni to brush the
northern Philippines, head past the east coast of Taiwan and
on to Japan’s Ryukyu Islands. JMA at 0345 GMT listed the
storm’s intensity as very strong and said it is moving slowly
northwest with maximum wind speeds of 45 meters/second
at the center and gusts of 65 m/s. CPC last halted bunker
operations at Suao and Hualien on August 6 due to Super
Typhoon Soudelor.
BUNKERWIRE
Monday, September 21, 2015
Subscriber notes (PGB page 1500)
Platts is reviewing its suite of refined product assessments in Latin
America and the Caribbean, and invites feedback from all interested
parties. The goal of the review is to determine how Platts’ existing
assessments should be updated to reflect recent changes in refined
product international trade flows in the Americas. Structural
changes to refining across South America, Central America and the
Caribbean, as well as the US and Mexico, have dramatically changed
the way products are supplied and traded throughout Latin
America. In South America, Platts assesses various grades of fuel oil
in several countries; gasoline and gasoil in Argentina; and naphtha
in Peru and Ecuador. Assessments can be found on page 164 as well
as pages 370, 470 and 570. In the Caribbean, Platts assesses
naphtha, jet kero, gasoil and fuel oil. Assessments can be found on
page 162 as well as pages 360, 460 and 560. For more details of the
assessments, please see the Americas refined product
methodology guide at: http://www.platts.com/IM.Platts.Content/
MethodologyReferences/MethodologySpec s/Americas-refined-oilproducts-methodology.pdf. Platts periodically reviews its
assessments to ensure they are representative of market activity.
Such reviews may lead to changes to the existing specifications of
an assessment, or potentially more substantial changes in the form
of new or different assessments, though any changes would be
subject to further industry consultation ahead of any final decision.
Please send any feedback by August 31, 2015, to
[email protected] and [email protected]. Please
provide a clear indication if comments are not intended for
publication by Platts for public viewing. Platts will consider all
comments received and will make comments not marked as
confidential available upon request.
With effect from September 1, 2015, Platts will launch a new
assessment for an ECA-compliant, 0.1% sulfur bunker fuel, following
a proposal note. This new assessment comes on the back of the
introduction of new sulfur emissions rules for vessels in the
Emissions Control Area around Northwest Europe in 2015. From
January 1, 2015, ships traveling within the Northwest European ECA
have had to limit sulfur emissions from fuel to 0.1%, down from the
previous maximum of 1%, according to International Maritime
Organization rules. The regulations do not stipulate use of a specific
fuel, which leaves the door open for multiple means of compliance.
Based on extensive consultation with market participants, Platts
believes there exists the possibility for a new market to develop for
an ECA-compliant bunker fuel that features aspects of residual fuel
oils, which have traditionally been a component of bunker fuel, and
less sulfur-intense distillate fuels. This likely new bunker fuel has
been described by many market participants as a dirty gasoil. The
proposed new assessments for this product would be assessed on
Copyright © 2015 McGraw Hill Financial
8
a delivered basis in Rotterdam, and published in dollars a metric
ton. The proposed new assessment would reflect the following
specifications: Specifications generally conform with those of RMG
380 CST, but with a 0.1% maximum sulfur. Platts proposes to reflect
the value of 0.1% maximum sulfur with 380 CST max viscosity (at 50
degrees Celsiun) and 0.991 kg/liter density with a maximum
combined aluminum and silicon content of 80 ppm, 30 max Pour
Point, Flash min 60 C, CCR max 18%, Ash max 0.15%, Water max
0.5%, Vanadium max 300 mg/kg, TSP 0.1%, Zinc max 15 mg/kg,
Phosphorus max 15 mg/kg, Calcium max 30 mg/kg, Free from used
lubricating oils (ULO) (calcium > 30 and zinc > 15; or calcium > 30
and phosphorus > 15), H2S 2ppm max This product is intended for
use in ships and should follow normal market conventions around
what is and is not acceptable in its makeup. The assessment would
reflect fuel loading on a delivered basis, one to eight days forward
from the date of assessment. The minimum stem size would be 200
mt and the maximum stem size would be 1,000 mt. Platts will
continue to publish its current assessments for marine gasoil,
which is also ECA-compliant. Please send feedback to
[email protected] and [email protected]. Please
provide a clear indication if comments are not intended for
publication by Platts for public viewing. Platts will consider all
comments received and will make comments not marked as
confidential available upon request.
Platts proposes to discontinue its Northwest European, Gibraltar,
Algeciras and Malta low sulfur (1% sulfur) bunker fuel assessments
with effect from September 1, 2015. Platts will continue to assess
low sulfur bunker fuel in the ports of Genoa and Piraeus, reflecting
the continuation of regional coastal and domestic usage. In
January 2015, low sulfur fuel oil became largely redundant as a
bunker fuel. In the wake of the January 1, 2015 implementation of
legislation from the International Convention for the Prevention of
Pollution from Ships (MARPOL), which further limited the sulfur
emissions from ships operating within any Emission Control Area
to a maximum of 0.1% from 1% previously, bunker demand for 1%
sulfur fuel oil largely disappeared.Demand for low sulfur bunker
fuel has generally been replaced by demand for marine gasoil, or
other similar, ultra low sulfur fuels. Pockets of demand for 1%
sulfur fuel oil across Europe still exist, though demand is
drastically reduced. Platts is maintaining its Genoa and Piraeus
low sulfur bunker fuel assessments in order to reflect the pockets
of demand specific to the two ports. Platts will continue to publish
assessments for marine gasoil (0.1% sulfur) for all of its existing
European and African ports. Platts will also continue to monitor
the development of the emerging supply of new ultra low sulfur
bunker fuels across Europe and Africa, demand and supply
patterns for these fuels, and subscriber demand for new
assessments.Platts low sulfur bunker fuel assessments are
currently published in Platts Bunkerwire and on Platts Global Alert.
For a complete list of all affected assessments and their PGA
codes, please see the table below.
CODE
AASTY00
AASUA00
AASUM00
AASUC00
AAVVZ00
AASUE00
AASUG00
AASUI00
AAVIW00
AAXCZ00
AARTD00
ASSESSMENT
Rotterdam LS 1%
Antwerp LS 1%
Dunkirk LS 1%
Hamburg LS 1%
Gothenburg 1%
Great Belt LS 1%
Gdansk LS 1%
St Petersburg LS 1%
Gibraltar LS 1%
Algeciras LS 1%
Malta LS 1%
PGA PAGE
PGA1850
PGA1850
PGA1850
PGA1850
PGA1870
PGA1870
PGA1870
PGA1870
PGA1860
PGA1860
PGA1860
MONTH CODE MONTH PGA PAGE
AASTY03
PGA1861
AASUA03
PGA1861
AASUM03
PGA1861
AASUC03
PGA1861
AAVVZ03
PGA1871
AASUE03
PGA1871
AASUG03
PGA1871
AASUI03
PGA1871
AAVIW03
PGA1861
AAXCZ03
PGA1861
AARTD03
PGA1861
Please send any further comments or questions to
[email protected] and [email protected]. For
written comments, please provide a clear indication if comments
are not intended for publication by Platts for public viewing. Platts
will consider all comments received and will make comments not
marked as confidential available upon request.
Platts proposes to end its North America and Panama 1% sulfur
bunker fuel assessments with effect from November 16, 2015. Platts
assesses 1%S, or low-sulfur, bunker fuel on a delivered and ex-wharf
bases in Houston, New Orleans, New York, Philadelphia, Savannah,
Charleston, Norfolk, Montreal, Vancouver, Seattle, Portland, San
Francisco and Los Angeles in North America, and in the
Panamanian ports of Balboa and Cristobal. The assessments to be
discontinued include IFO 380 and IFO 180 qualities. Since January 1,
2015, ships operating in the Emissions Control Area within 200
nautical miles of North American shores must use bunker fuel with
a maximum sulfur content of 0.1%, down from 1%, according to
International Maritime Organization rules. The maritime industry’s
shift away from 1%S bunker fuel consumption has effectively ended
virtually all demand for the product, and as a result it is no longer
offered for sale on a typical basis in any of the region’s ports,
meaning there is no longer an observable market on which Platts
can base its assessments. Although some companies have waivers
to use non-Emission Control Area-compliant fuels, the fuels being
consumed typically have sulfur contents between 2%-3.3%,
according to the US Coast Guard and US Environmental Protection
Agency, which collectively enforce the IMO regulations in North
America. Platts will continue to publish assessments for 0.1%S
marine gasoil, or MGO, for all its existing American ports, alongside
ultra-low sulfur, 0.1% bunker fuel assessments in New York and
BUNKERWIRE
Monday, September 21, 2015
Subscriber notes (continued) (PGB page 1500)
Houston. For a complete list of all affected assessments and their
PGA codes, please see the table below:
ASSESSMENT
IFO 380 CST delivered New York LS 1%
Philadelphia LS 1%
Norfolk LS 1% Charleston LS 1% Houston LS 1% New Orleans LS 1% Los Angeles LS 1% San Francisco LS 1% Portland LS 1% Seattle LS 1% Montreal LS 1% Vancouver LS 1% IFO 180 CST delivered New York LS 1% Philadelphia LS 1% Norfolk LS 1% Charleston LS 1% Houston LS 1% New Orleans LS 1% Los Angeles LS 1% San Francisco LS 1% Portland LS 1% Seattle LS 1% Montreal LS 1% Vancouver LS 1% IFO 380 CST bunker ex-wharf New York LS 1% Philadelphia LS 1% Norfolk LS 1% Charleston LS 1% Savannah LS 1% Houston LS 1% New Orleans LS 1% Los Angeles LS 1% San Francisco LS 1% Portland LS 1% Seattle LS 1% Montreal LS 1% Vancouver LS 1% Balboa LS 1% Cristobal LS 1% IFO 180 CST bunker ex-wharf New York LS 1% Philadelphia LS 1% Norfolk LS 1% Charleston LS 1% Savannah LS 1% Houston LS 1% New Orleans LS 1% Los Angeles LS 1% San Francisco LS 1% Portland LS 1% Seattle LS 1% Montreal LS 1% Vancouver LS 1% Balboa LS 1% Cristobal LS 1% Copyright © 2015 McGraw Hill Financial
CODEPGA PAGE MONTH CODE
AAWSS00 MH860
AAWSS03
AAWSW00 MH860 AAWSW03
AAWSO00 MH860 AAWSO03
AAWLK00 MH860 AAWLK03
AAWLO00 MH860 AAWLO03
AAWRY00 MH860 AAWRY03
AAWLS00 MH860 AAWLS03
AAWTE00 MH860 AAWTE03
AAWTA00 MH860 AAWTA03
AAWTK00 MH860 AAWTK03
AAWQI00 MH860 AAWQI03
AAWTO00 MH860 AAWTO03
AAWSQ00 MH860 AAWSQ03
AAWSU00 MH860 AAWSU03
AAWSM00 MH860 AAWSM03
AAWLI00 MH860 AAWLI03
AAWLM00 MH860 AAWLM03
AAWQO00 MH860 AAWQO03
AAWLQ00 MH860 AAWLQ03
AAWTC00 MH860 AAWTC03
AAWSY00 MH860 AAWSY03
AAWTI00 MH860 AAWTI03
AAWLX00 MH860 AAWLX03
AAWTM00 MH860 AAWTM03
AAWST00 MH862 AAWST03
AAWSX00 MH862 AAWSX03
AAWSP00 MH862 AAWSP03
AAWLL00 MH862 AAWLL03
AAWTH00 MH862 AAWTH03
AAWLP00 MH862 AAWLP03
AAWRZ00 MH862 AAWRZ03
AAWLT00 MH862 AAWLT03
AAWTF00 MH862 AAWTF03
AAWTB00 MH862 AAWTB03
AAWTL00 MH862 AAWTL03
AAWQJ00 MH862 AAWQJ03
AAWTP00 MH862 AAWTP03
AAWWQ00 MH870 AAWWQ03
AAWWO00 MH870 AAWWO03
AAWSR00 MH862 AAWSR03
AAWSV00 MH862 AAWSV03
AAWSN00 MH862 AAWSN03
AAWLJ00 MH862 AAWLJ03
AAWTG00 MH862 AAWTG03
AAWLN00 MH862 AAWLN03
AAWRX00 MH862 AAWRX03
AAWLR00 MH862 AAWLR03
AAWTD00 MH862 AAWTD03
AAWSZ00 MH862 AAWSZ03
AAWTJ00 MH862 AAWTJ03
AAWQH00 MH862 AAWQH03
AAWTN00 MH862 AAWTN03
AAWWP00 MH870 AAWWP03
AAWWN00 MH870 AAWWN03
9
Please send any further comments or questions by June 19 to
[email protected] and [email protected]. For
written comments, please provide a clear indication if comments
are not intended for publication by Platts for public viewing. Platts
will consider all comments received and will make comments not
marked as confidential available upon request.
Platts proposes to update the specifications reflected in its
benchmark US Gulf Coast 3%S physical residual fuel oil
assessments, also referred to as USGC HSFO and USGC fuel oil
No. 6. At the same time, Platts proposes to rename the
assessment and standardize its name across all publications.
The update in specification would take effect from October 1,
2016. SPECIFICATION UPDATE: Platts proposes to update the
specification reflected in this assessment to reflect IFO 380
3.5%S fuel oil specifications. NAME UPDATE: Platts proposes to
rename this assessment as “USGC HSFO” and standardize the
name of the assessment across all publications. This
assessment is currently published in the Platts price database
under the data code PUAFZ00, in Platts US Marketscan as “No. 6
3%” in its “Gulf Coast” table, in Oilgram Price Report as “Gulf
Coast No. 6 3.0%S (Waterborne) Fuel Oil,” in Latin American Wire
as “Fuel Oil 3%S,” and in North American Crude and Products
Scan as “Resid 3%.” This name change will align the description
in all locations, and better reflect current and future sulfur
specifications. For the full subscriber note, see http://www.
platts.com/subscriber-notes-details/21789254. Platts invites
initial feedback by September 30, 2015, to
[email protected] and [email protected].
Please provide a clear indication if comments are not intended
for publication by Platts for public viewing. Platts will consider all
comments received and will make comments not marked as
confidential available upon request.
Effective October 1, 2015, following a previous proposal note,
Platts intends to amend and update the specifications it reflects
in its European high sulfur 3.5% Mediterranean fuel oil cargo
assessments. Platts proposes to reflect the value of 3.5%
maximum sulfur with 380 CST max viscosity (at 50 degrees
centigrade) and 0.991kg/l density with a maximum combined
aluminum and silicon content of 60 ppm, max 30 degrees Pour
Point, min 60 degrees Flash Point, CCR max 18%, Ash max 0.1%,
Water max 0.5%, Vanadium max 350 mg/kg, TSP 0.1%,
Asphaltenes max 8 %, Sodium max 100 mg/kg, Acid number 2.5
mg/kg, Zinc max 15 mg/kg, Phosphorus max 15 mg/kg, Calcium
max 30 mg/kg, Free from used lubricating oils (ULO) (calcium >
30 and zinc > 15; or calcium > 30 and phosphorus > 15), H2S
2ppm max This will see changes to the following elements of
Platts current specification:
Specification CurrentProposed
Aluminum and silicon
80ppm
60ppm
Ash
0.15%0.1%
Vanadium
300 mg/kg
350 mg/kg
Sodium
Not reflected
100 mg/kg
Acid number
Not reflected
2.5 mg/kg
ULO
Not reflected
Free from ULO
Platts is proposing to update and amend its Mediterranean HSFO
cargo specifications due to a fundamental shift in both the supply
and demand of Mediterranean HSFO. Bunker fuel specifications
have evolved over time as a result of legislation or changes to
demand and supply patterns. In recent years, one of the most
notable changes to Mediterranean demand has been to aluminum
and silicon, which has lowered from the previous 80 ppm to 60
ppm. Following suit, refiners in the Mediterranean also began to
shift their HSFO production to meet this demand. In line with these
evolving practices, Platts is proposing to update its specifications to
reflect a lower aluminum and silicon content. Platts is also taking
this opportunity to update a number of other specifications, as
detailed above. Please send any comments or questions to
[email protected] and [email protected]. For
written comments, please provide a clear indication if comments
are not intended for publication by Platts for public viewing. Platts
will consider all comments received and will make comments not
marked as confidential available upon request.
Effective October 1, 2015, Platts proposes to launch assessments
for the value of the 180 CST Singapore Fuel Oil cargo swaps, 380
CST Singapore Fuel Oil cargo swaps and 380 CST and East-West
fuel oil swap spreads which represents the difference between
the comparable month’s 380 CST Singapore Fuel Oil cargoes and
FOB Rotterdam 3.5% Fuel Oil Barge swaps, at 16:30 London time.
Platts will add these assessments to its existing fuel oil derivative
suite in order to enhance its coverage of the fuel oil market and
better represent the key high sulfur fuel oil arbitrage route
between Europe and Asia. Platts will publish assessments for
three full calendar months ahead of the date of publication. Platts
will publish bids, offers and interest to trade these swaps in the
Platts Market on Close assessment process. Please send any
comments or questions by August 31, 2015 to
[email protected] and [email protected]. For
written comments, please provide a clear indication if comments
are not intended for publication by Platts for public viewing. Platts
will consider all comments received and will make comments not
marked as confidential available upon request.