World News
Brightoil Starts Delayed Zhoushan Bunkering
After delays last month, Brightoil Petroleum (Holdings) Limited [HKG:0933] (Brightoil) began supplying bunker fuel at eastern China's Zhoushan port Wednesday, Platts reports.
Citing an unnamed company source, Platts said the company delivered 850 mt of 380 cst grade bunker fuel to the port.
"Since it is a new port, we are quite cautious for the first order," said the source.
The company had planned to start deliveries in the first half of July but delayed them until August.
Brightoil had also planned to start a bunker fuel supply from another port in east China, Qingdao, but the start of operations there has been held up until later this month due to a delay in arrival of an import cargo.
Brightoil has leased a 20,000-cubic-meter tank at Zhoushan and a 60,000-cubic-meter tank at Qingdao to store bunker fuel, and it added 15 new barges to its supply operations this year, including a 3,200 metric tonne (mt) capacity barge for use at Zhoushan, and a 3,600 mt barge to be used at Qingdao, both of which are owned by the company.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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