Featuring the latest developments in cash premiums, tenders, and innovative biofuel bunkering trials. The xm source.
- Fuel oil premiums soften ahead of October tenders, with HSFO and VLSFO markets showing different trends.
- Pertamina expands residual fuel offerings, including heavy vacuum residue and decant oil cargoes, via tender.
- HMM conducts a marine biofuel bunkering trial, achieving a 24% reduction in greenhouse gas emissions with a 30% biodiesel blend.
Fuel Oil Premiums Soften as October Tenders Approach
Cash premiums for fuel oil continue to ease as the market anticipates more October tenders and loadings in the coming days. The 380-cst high sulphur fuel oil (HSFO) cash premium FO380-SIN-DIF slips for the fifth consecutive session, while October crack FO380DUBCKMc1 declines to a notable discount.
VLSFO Market Remains Steady with Supply Expectations
While the very low sulphur fuel oil (VLSFO) spot market experiences minimal changes, the market remains cautious due to expectations of higher supplies. Cash premiums for 0.5% VLSFO MFO05-SIN-DIF hold steady, while October crack LFO05SGDUBCMc1 turns into a premium.
Pertamina Expands Residual Fuel Offerings
Indonesia’s Pertamina expands its residual fuel product offerings for October loading via tender. This includes heavy vacuum residue (HVR-1) and decant oil (DCO) cargoes, in addition to marine fuel oil (MFO) and low sulphur waxy residue (V-1250) offers issued last week.
Marine Biofuel Bunkering Trial by HMM
South Korean shipper HMM conducts a bunkering trial on one of its container ships in Busan, using marine biofuel supplied by GS Caltex. This innovative biofuel consists of 30% biodiesel derived from used cooking oil and 70% HSFO, resulting in a 24% reduction in greenhouse gas emissions compared to conventional fuels.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source-xm
