Asia/Pacific News
Taiwan's CPC Corporation Tightens Bunker Order Rules Amid Market Volatility
Taiwanese bunker supplier CPC Corporation has introduced measures preventing extensions to bunker delivery orders amid Middle East conflict-driven market volatility.
The company will no longer accept requests to extend the validity of bunker delivery orders, it said in a note to clients on Tuesday.
This effectively means that the delivery date cannot be pushed back if a vessel is delayed.
CPC said vessels must take on bunkers within 11 days from the date the bunker order is accepted.
“Every Vessel must commence taking bunker as ordered by Buyer within eleven (11) days counted from and including the date of CPC's acceptance of Buyer's concerned Bunker Order, and the commencement of bunkering procedure shall be based on the start time of pumping,” the note stated.
If bunkering does not begin within this period for reasons attributable to the buyer, the order will be treated as cancelled.
The company has also introduced cancellation charges of $200 per metric tonne, calculated based on the quantity cancelled or reduced from the original order.
“The Buyer must sign the 'Temporary Measures Acknowledgement Form for Bonded Delivery Order Validity and Cancellation Charges' before placing any Bunker Orders with CPC Corporation, Taiwan,” the company said.
The company added that the rules may be reviewed once market conditions stabilise.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 1116.00 | 293.50 | 1768.00 | 385.00 |
| Rotterdam | 772.50 | 141.00 | 1162.50 | 109.00 |
| Houston | 775.50 | 107.50 | 1222.50 | 84.00 |
| Fujairah | 975.50 | 233.00 | 1411.00 | 209.00 |
| APAC Average | 883.50 | 76.00 | 1291.50 | 94.00 |
| Global 20 Ports Average | 929.00 | 194.00 | 1330.00 | 176.50 |
| Global 4 Ports Average | 910.00 | 194.00 | 1391.00 | 196.50 |
| Global Average Bunker Price | 841.50 | 101.50 | 1249.00 | 114.50 |
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