World News
Global VLSFO Off-Spec Rate Rose in Q2, But Remains Below 2021 Levels: Verifuel
The share of VLSFO samples found to be off-specification continued to climb on a sequential basis in the second quarter of 2022, but remains below levels seen this time last year, according to Bureau Veritas bunker monitoring unit Verifuel.
About 2% of the VLSFO samples analysed by Verifuel in the second quarter of 2022 were found to be off-specification, a company representative told Ship & Bunker on Thursday. The figure was up from 1.7% in the previous quarter and from 1.3% in the fourth quarter of 2021, but down from 2.4% in the second quarter of 2021.
The rate may be declining as we head into the third quarter, with 2.4% of samples found to be off-specification in April, 1.6% in May and 1.9% in June.
An increase in quality problems might be expected in the aftermath of the Russian invasion of Ukraine, with middle distillates now much harder to come by and more experimental blending components likely to be used. Singapore saw HSFO contamination problems in February and March, and a similar situation may have emerged at the Amsterdam-Rotterdam-Antwerp hub in recent months.
The global average viscosity of all VLSFO samples the company analysed was 153 cSt in the second quarter, up from 142 cSt the previous quarter and the most since at least 2020. Average density rose marginally to 945.5 kg/m3 from 945.2 kg/m3 the previous quarter.
Charlotte Rojgaard, global head of marine fuel services at Verifuel, is due to speak at the IBIA Annual Convention 2022 in November. The convention will be held at the JW Marriott Houston hotel on November 15-17. The event will consist of a bunker training course on November 15, followed by a series of keynote speeches, presentations and panel sessions over the following two days.
For more information and to register for the event, click here. If you would be interested in participating as a speaker or panellist, contact IBIA's global head of marketing and events, Sofia Konstantopoulou, at sofia.konstantopoulou@ibia.net.
If you would be interested in sponsoring the event, contact Ship & Bunker's head of sales and partnerships, Paul Davis, at sales@shipandbunker.com.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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