World News
10% of 1% Low Sulfur Bunker Fuel is Off-Spec
Approximately 10% of Emission Control Area (ECA) compliant 1.00% sulfur 380 cSt bunker fuel is off-specification and does not meet the 1% sulfur limit, Rahul Choudhuri from DNV Petroleum Services (DNVPS) told the International Bunker Industry Association Asia bunker forum today.
According to a Platts report, the results were from samples taken since August 1, 2012 when the North American ECA came into effect.
About one third of the cases were said to have been found in Singapore and between 50% and 80% coming from the Antwerp-Rotterdam-Amsterdam (ARA) hub, although Choudhuri noted there would always be more cases seen in the ports that sold the most bunkers.
Details on volumes and an exact regional breakdown was not provided.
Commenting on the low sulfur market, DNVPS said the U.S. and Singapore have not had problems blending the low sulfur fuel, and the key markets supplying the fuel were U.S. ports, Singapore, South Korea and Vladivostok.
Demand for the fuel in Singapore has been reported to have grown from 30,000 metric tonnes (mt) per month to between 40,000 mt and 90,000 mt per month.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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