Easily get answers to your questions because every report issue includes contact information for our market editors. Trust OPIS price assessments because they are based on transactional data that occurs over the course of the entire trading day. Evaluate compliance options, source fuel and make cost-effective operating decisions. In the Americas, prices for all the above products plus LT cycle oil and LNG in Houston; New York; New Orleans; Savannah; Los Angeles; Seattle; Panama; Philadelphia; Norfolk; Vancouver, Canada; Manzanillo, Mexico; Veracruz, Mexico and Valparaiso, Mexico. Prices of VLSFO bunker fuel delivered-Rotterdam hit a record low of $154/mt on April 28, while the pre-IMO 2020 HSFO price was last below this in April 2016. And have released the latest version of their Top 10 Bunker Companies report updated for 2021. Bunkerspot provides news, in-depth analysis, expert comment and price indications for the global marine fuels industry twitter ... when stored for longer time frames were addressed in an online webinar today hosted by Integr8 Fuels, with Douglas Raitt, Global FOBAS Manager, suggesting that the fuel may not be ‘a formulation to be kept for a period of time’. Pare down the data you receive to the most important prices and ports needed to monitor the transitioning marine fuel market. Indicative prices for 0.5% VLSFO are based on a formula that relies on price assessments calculated on a full day’s trading. But which VLSFO specs do they cover? Very Low Sulfur Fuel Oil (VLSFO) pricing as of November 2019 is as muddy as it was at mid-to late 2019, when the ISO PAS was issued. The results is a nightmare, primarily for shipowners who may be stuck with unknown blend formulations and unusual characteristics. In particular, VLSFO price in Asia (Singapore) for a period exceeded 700 USD/TON, more than 20% increase compared to the previous bunker prices used for the Bunker Adjustment Factor (BAF) and Environmental Fuel Fee (EFF) calculation. The OPIS BTU Indicator helps buyers plan cost-effective fuel purchases by calculating the energy content in the new 0.5% VLSFO compared with legacy high-sulfur marine fuels. With VGO so readily available and cheap during this time, many looked to use the product in the VLSFO blending pool as storage was strained for all oil products. This is simply a blend to dilute the HFO Sulfur to 0.5% using gasoils; thus one can expect the price to be about 80% of gasoil, pretty close to that of MGO. The report is published using OPIS’ full-day spot pricing methodology for sound and accurate price data. Easily get answers to your questions because every report issue includes contact information for our market editors. By Ara Barsamian and Daniel Byeong C. Son, Refinery Automation Institute, LLC. VGO bunker blends. The market has become distracted from its prior focus on IMO 2020 due to COVID-19 and a crude oil price war. Register with us today and in less than 60 seconds continue your access to: Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts Consequently, if the price of VLSFO is much higher than that of HFO, a scrubber-equipped ship burning HFO earns a much higher TCE rate for the same spot contract than a non-scrubber ship, due to fuel savings. Port HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. ]: Subscribe for a year or order a 1-month trial. The only markets left for 3.5% HSFO are power generation, which currently uses LNG and coal (approx. Before, we used to work on plus/minus 10 indexes [to hedge], and now it is perhaps 40-50.” Global Bunker Fuels Industry Looks to the Future. For more info on blend formulations and impact, contact us at info@refautom.com. Ara Barsamian is the president and CEO of Refinery Automation Institute LLC (RAI), has over 48 years of experience in bunker, gasoline, diesel, and biofuels blending operations and technology. World 3 [? IFO 180---VLSFO 0.5: Subscribe: MGO 0.1/0.5: Date: 430.50 -1.50: 2020-12-15 Get the pricing information you need to take quick action. "It's a disaster waiting to happen because the thing is, a lot of this fuel [VLSFO] hasn't been burnt and consumed yet. This report is a “one-stop shop” for key marine fuel prices in the most important regions, presented with handy tables, charts and graphs for at-a-glance reading. Oil price information Last update: 2020-12-21 Nr. The transition to a new, 0.5% spec very-low sulfur fuel oil has impacted refiners, ship owners and operators. The future cost of 3.5% HSFO could go as low as $220/mt. Click here. Cluster 3 price is in the range of $250 to 360/MT. Around 8% of VLSFO samples tested by VPS (Veritas Petroleum Services) at the end of 2019 had sulphur content over 0.50%, but by March-April 2020 that index had fallen to 1.1%. But 'Peak Oil' may have already been reached, says demand analyst. The Global Marine Fuels Report also includes the most up to date daily fixtures of fuel oil, vacuum gasoil, and other marine fuel blending components cargoes. Loading price data... Sign in. Latest Prices, VLSFO Fuel Oil, IMO2020 Grade, 0.5%S. Date Price $/mt Change High Low Spread; F Dec 18: 414.50: 0.00: 414.50: 414.50: 0.00: T Dec 17: 414.50 +6.50 When you examine Platts, Argus, OPIS, or other marine bunker price information sources, there is only one price for the column labelled VLSFO. And even some near-term bullish fundamentals that would typically provide the impetus for a rally may not do much to stem the slide. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? Daniel can be reached at daniel@refautom.com. Colombo Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts “Today, the absolute price of everything is lower. The supplier is about to open an office in Athens in its first international expansion since its formation three years ago. BULK & Bunker fuel prices, 0.5% VLSFO & global shipping market analysis. The reason the HFO-VLSFO spread is so slim is that the VLSFO price has fallen as well. To contact the editor responsible for this story email us at editor@shipandbunker.com. The current coronavirus-driven dynamics of the marine fuel market are a far cry from the fears of price spikes post IMO 2020 when the sector rushed to stockpile compliant fuels, and this has caught some companies out. Is it worth the risk, since stability and compatibility of the blend depends heavily on the degree of aromaticity of VTB's and asphaltene content of the HSFO? Oil price charts for Brent Crude, WTI & oil futures. “And you need individual guidelines for your business. Cluster 2 price is in the range of $500 to 540/MT. It may not just be sediment issues but flash point too," said one shipowner Friday. However, as VLSFO prices begin to rise again and demand for cheaper heavy fuel oil (HFO) picks up, Yara Marine Technologies expects to see a greater installation of scrubbers in 2021. The VLSFO/MGO price differential has widened slightly at Rotterdam this week, increasing from $51 on 27 February to $57 on 6 March. Indicative prices for 0.5% VLSFO are based on a formula that relies on price assessments calculated on a full day’s trading. Loading price data... Sign in. Los Angeles VLSFO max 0.5% Price Today USD/MT, Live & Historical Price Charts. In Asia, prices for 0.5% VLSFO, 380 CST HSFO, and MGO are reported for the key ports of Singapore; Fujairah; Chiba, Japan; Busan, South Korea; Kaohsiung, Taiwan and Zhoushan, China. Looking back further, Singapore VLSFO prices had remained relatively steady at around $520-550 pmt between July to November 2019 before a sudden hike from mid-December as … Cluster 3 price is in the range of $250 to 360/MT. Click here. He was involved in the implementation of a crude blend compatibility predictor calculator, a crude assay blend calculator, and with the research of IMO 2020 bunker availability study update. He holds BS and MS degrees in electrical engineering from City University of New York. Stay on top of the changing U.S. and global markets with our market summary page. The European very low sulfur fuel oil market has hit nine-month high as product comes to the market ahead of year-end. In this post, part two of our five-part series on IMO 2020, we take a look at what VLSFO blends may look like next year, what the main components will be, where they will be produced and what compatibility issues may arise. In favour of a move into renewables market. And when the new fuel spec starts trading, OPIS will report on its true market value as we do with all other fuel prices we report. Download a sample report and see for yourself. The spread between the physical and front-month paper market, more commonly known as the cash-paper spread, for 0.5%S FOB Rotterdam barges was assessed at $7.25/mt on Dec. 3 after rallying more than $8 in just over a week. Good news last week was that there was sharp decline registered in non-compliant very low sulphur fuel oil (VLSFO) samples globally. CEO Timothy Cosulich says move was "in response to the growth of our activities in the bunker trading sector. “If you are a purchaser and you go around the world, it is challenging,” Zerdekof explained. The graph shows the price of HSFO and 0.5% low sulphur fuel oil (VLSFO). In order to compete, 3.5% HSFO will need to be priced at parity with LNG and coal which results in a price of approximately $220/mt. Los Angeles VLSFO max 0.5% Price Today USD/MT, Live & Historical Price Charts For cluster 2.2 one can use a blend of 40% LS VAC bottoms and 60% LS VGO to get a highly paraffinic VLSFO with a price significantly lower than cluster 1 but not as cheap as Cluster 3 or Cluster 2.1 (VGO being significantly more expensive than Slurry). Indicative prices for 0.5% VLSFO are based on a formula that relies on price assessments calculated on a full day’s trading. Cluster1 price is in the range of $550 to 600/MT. The demand for marine scrubbers has taken a hit this year with the global pandemic shifting fuel prices and weakening the business case for the technology. 1: Rotterdam/Antwerp: $ 300: $ 375 Oil Price Information Service (OPIS) © 2020 All rights reserved, Watch now to discover the benefits of the Global Marine Fuels Report, International Feedstocks Intelligence Report, Retail Year in Review and Profit Outlook Report, Customized Retail Fuel Prices and Margins, OPIS/STALSBY Petroleum Terminal Encyclopedia, View the Global Marine Fuels Report product fact sheet, California Do Not Sell My Personal Information. And when the new fuel spec starts trading, OPIS will report on its true market value as we do with all other fuel prices we report. Because of lack of precise specs for VLSFO, everybody's doing their own thing. Cluster 2 price is in the range of $500 to 540/MT. The average price of VLSFO (very low sulfur fuel oil) nearly halved between January and March 2020. The average increase in January thus is expected to exceed USD 50/mt,” Maersk said in an advisory. Crude oil prices & gas price charts. Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts ]: Subscribe for a year or order a 1-month trial. The price for VLSFO at Rotterdam has shown some volatility in recent days and has ended the week some $35 down, at $365 p/mt, which is still by far the cheapest price for this grade among the main supply hubs. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? Loading price … So what's available on the market? Crude Oil; Natural Gas; Energy Futures; Maritime; Companies ; Products; Events; Press Release; Promote your business Register Free. SKS Dokka has replaced sister vessel, SKS Darent. Commodity player denies involvement following civil lawsuit lodged in Brazil. Contact Us; About Us; Submit Articles to OM ; Home; Bunker Fuel Prices; Far East and South … Table 1 above clearly shows the VLSFO cluster formulation prices for typical recipes: It is you, the buyer that has to do the detective work to find out which specs go with what prices since the impact on marine engines is significantly different, and could be catastrophic. This is a highly aromatic blend available in Europe which has many Visbreakers and access to low Sulfur crudes. Currently there are 3 significantly different VLSFO spec clusters being sold: This is highly paraffinic HSFO using ATM or VAC bottoms (ATB or VTB) cut with mostly gasoil, in a ratio of about 1:4. The organisation estimates it will cost $23.3-24.8 million to bring shore power to the terminal. Start a free 30-day trial and receive a daily file via email at the end of each business day. Mr. Barsamian is a member of AIChE, ASTM, and IBIA. But the flat-price “one size fits all” VLSFO specification and swap remains elusive. CRUDE OIL PRICES; BUNKER PRICES; Gas Prices; ENERGY NEWS. Besides the price advantage, for the shipowner, it is "business as usual" by burning a residual fuel close to today's IFO380 3.5%S, without surprises like thermal shocks or lubricity issues. Earlier in his career, he was a group head with Exxon Research & Engineering Co., president of 3X Corp., and vice-president of ABB Simcon, all in the area of fuels blending. Crude Oil; Natural Gas; Energy Futures; Maritime; Companies ; Products; Events; Press Release; Promote your business Register Free. The two-month freefall in the price of very low-sulfur fuel oil (VLSFO) is accelerating due to the widespread economic impact of the coronavirus disease 2019 (COVID-19), energy experts said this week. GLOBAL: Euronav ‘hopeful’ stockpiled VLSFO will be at market price before year’s end Details Written by Rhys Berry Published: 05 November 2020 Euronav has announced that, as of 30 September, the volume of very low sulphur fuel oil (VLSFO) onboard the ultra large crude carrier (ULCC) Oceania was approximately 200,000 metric tonnes. Date Price $/mt Change High Low Spread; F Dec 18: 403.50 +0.50: 417.00: 394.50: 22.50: T Dec 17: 403.00 +7.00 The answer is no. Lately he has been involved in the IMO 2020 bunker blends, recipes, and ISO 8217 specs. DANIEL BYEONG CHAN SON is a ChE intern at Refinery Automation Institute LLC (RAI. Las Palmas VLSFO 0.5% Price Today USD/MT, Live & Historical Price Charts. In this post, part two of our five-part series on IMO 2020, we take a look at what VLSFO blends may look like next year, what the main components will be, where they will be produced and what compatibility issues may arise. The advantage is that for the shipowner, it is more or less "business as usual" by burning a residual fuel without unpleasant surprises like thermal shocks or lubricity issues. Image Credit: RAI. Among his first experience at Exxon was computerized bunker blending in Aruba. ]: Subscribe for a year or order a 1-month trial. The remainder will be made up of very-low sulphur fuel oil (VLSFO) blends, a largely unknown entity in the bunker market. CRUDE OIL PRICES; BUNKER PRICES; Gas Prices; ENERGY NEWS. Also featured are exclusive OPIS benchmarked ULSD rack prices for key North American markets, plus ULSD spot prices for Gulf Coast, New York Barge, Los Angeles, and the Pacific Northwest. Callao VLSFO 0.5% Price Today USD/MT, Live & Historical Price Charts. 1: Rotterdam/Antwerp: $ 305: $ 385 The Global Marine Fuels Report includes price assessments for 0.5% VLSFO and high-sulfur bulk and bunkering fuels in the most important ports around the world. Of the total, 17 or 46% were issued for flash point issues -- nine for MGO, five for VLSFO and three for HSFO, he said, adding VLSFOs account for 65% of all fuel samples tested by VPS. The COVID-19 pandemic, which has triggered a drastic drop in crude oil and oil product prices… Read our collection of the latest bunker fuel market news and insight on IMO 2020 impact on diesel prices and distillate blends, VLSFO, bunker fuel prices and more. The repercussions set the stage for high fuel prices. Oil price information Last update: 2020-12-18 Nr. The price for VLSFO at Rotterdam has shown some volatility in recent days and has ended the week some $35 down, at $365 p/mt, which is still by far the cheapest price for this grade among the main supply hubs. But have bunker fuels been forgotten? In Europe, you’ll find 0.5% VLSFO, HSFO, and DMA prices out of these essential ports: Rotterdam; Antwerp; Hamburg; Istanbul; Gibraltar and Piraeus. Ship owners, refiners, suppliers and fuel managers need the reliable price transparency found in the OPIS Global Marine Fuels Report to make cost-effective decisions regarding their fuel slate in light of IMO 2020 regulations. This report is beneficial for ship owners and operators, refiners, bunker fuel buyers, procurement mangers, traders, brokers, and professionals at integrated fuel companies and marine departments. Because of the highly paraffinic nature, it could be highly unstable with potentially disastrous consequences for shipowners. Detailed analysis of the science for why VLSFO is dangerous is published in a separate article today, entitled, “SHIPPING-GATE: Why Toxic VLSFO Fuel Is Such A Danger For Global Shipping.” Crude Oil; Natural Gas; Energy Futures; Maritime; Companies; Products; Events; Press Release; Promote your business Register Free. Typically the VLSFO blends use 60 to 80% LS Visbreaker tar cut with about 20-40% FCC Slurry, so it is significantly cheaper than cluster 1. Latest Prices, VLSFO Fuel Oil, IMO2020 Grade, 0.5%S. Here’s a look at the current market. The VLSFO/MGO price differential has widened slightly at Rotterdam this week, increasing from $51 on 27 February to $57 on 6 March. IMO 2020 emission regulations issued by the International Maritime Organization required vessels to use lower-sulfur bunkering fuel, effective January 1, 2020. ]: Subscribe for a year or order a 1-month trial. Singapore VLSFO max 0.5% Price Today USD/MT, Live & Historical Price Charts. Table 1 above clearly shows the VLSFO cluster formulation prices for typical recipes: Cluster1 price is in the range of $550 to 600/MT. World 3 [? Physical Bulk and Bunker Marine Fuel Pricing and News for Asia, Europe and the Americas. Singapore VLSFO 0.5% Price Today USD/MT, Live & Historical Price Charts. 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