World News
Singapore Market Takes First LSFO From Nigeria's Dangote Refinery
Thursday June 13, 2024
The Singapore market has received its first LSFO cargo from Nigeria's new Dangote refinery.
Glencore's chartered tanker the Front Brage was scheduled to deliver 124,000 mt of low-sulfur straight-run fuel oil from Dangote this week, news agency Reuters reported.
The 650,000 b/d Dangote refinery is set to be Africa's largest when it reaches full capacity.
Another cargo, this time of 157,000 mt, is set to arrive in Singapore in July.
Low-sulfur straight-run fuel oil is typically either blended to produce VLSFO or used as refinery feedstock.
Singapore is the world's largest bunkering hub, with a record 51.8 million mt of marine fuel sales in total last year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 615.50 | 2.00 | 751.00 | 3.00 |
| Rotterdam | 561.00 | 2.00 | 771.00 | 3.00 |
| Houston | 591.50 | 3.50 | 766.00 | 1.50 |
| Fujairah | 611.50 | 1.50 | 860.50 | 0.50 |
| Global 20 Ports Average | 628.50 | 1.50 | 817.50 | 3.00 |
| Global 4 Ports Average | 595.00 | 2.50 | 787.00 | 1.50 |
| Global Average Bunker Price | 672.00 | 0.00 | 876.50 | 1.00 |
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