China’s exports of VLSFO increased 21%

China’s clean marine fuel exports rose 21% in the first two months of 2022 from a year ago, following an increase in Beijing’s export quotas, customs data showed. Exports of low-sulphur fuel oil reached 3.64 million tonnes in January and February, up from 3.02 million tonnes in the corresponding period last year, data from the

Hambantota Port expects phenomenal growth

The Hambantota International Port (HIP), which continues to come under attack by the opposition, said it expects phenomenal growth in the services it offers. HIP in a statement said that it has received FSS certification (Fitness for Service) for their tank farm facility. The certification was issued by Lloyd’s Register (LR), the World’s leading provider

The VLSFO crack in Asia fuel oil rises to more than a week high

Asia’s front-month crack for 0.5% very low-sulphur fuel oil (VLSFO) rose to their highest level in more than a week on Friday, and traders expect the market to remain tight until the end of this month. The front-month VLSFO crack against Dubai crude came to $14.62 per barrel during Asian trade on Friday, the largest

Launch of first VLSFO supply in Mozambique

Mozambique Civitas Logistics, part of the Civitas Partners Group (CPG), is now offering very low sulphur fuel oil (VLSFO) at the Port of Nacala after the discharge of the fuel, supplied by Shell from Singapore, into its floating storage unit, Deniz Sultan, on 7 November. CPG will supply VLSFO in the Nacala area from the

Firm demand, lower output lift VLSFO market higher

Asia’s 0.5% very low-sulphur fuel oil (VLSFO) gained on Monday as firming utilities and bunkering demand for the fuel weighed on already tightening inventories, trade sources said. VLSFO output has declined recently as refiners switched to maximising production of higher value refined fuels amid soaring gasoil and gasoline refining margins. The VLSFO cash premium, front-month

Monjasa Acquires Tanker to Serve Burgeoning West African VLSFO Market

DWT tanker, acquired from Neste in Finland and now renamed as Monjasa Trader, left the Port of Rotterdam on 15 August and is now heading for Lomé in West Africa. Announcing the acquisition of the tanker, Monjasa highlighted the increasing local availability of very low sulphur oil in West Africa. The ‘high quality’ product is

HSFO cash premiums surge to 9-month highs, VLSFO firms

Cash premiums for cargoes of Asia’s high-sulphur fuel oil (HSFO) extended gains on Friday, ending the week at multi-month highs amid limited supply and firm demand from utilities and refiners. Cash premiums 180-cst HSFO hit a more than nine-month high of $5.30 a tonne to Singapore quotes, while premiums for cargoes of 380-cst HSFO climbed

China’s Zhoushan VLSFO prices lag crude gains

Bunker fuel prices for very low-sulphur fuel oil (VLSFO) at China’s largest bunker port of Zhoushan have lagged crude gains so far in 2021 because of rising domestic refinery supplies, which is increasing competition for market share as supply outpaces demand. Zhoushan’s VLSFO bunker prices rose by 19% during 4 January to 18 February to

CII seeks nod for use of very low sulphur fuel in industries

With the government directing industries to discontinue the use of furnace oil and petcoke, the Confederation of Indian Industry (CII) has requested the department of environment to permit the use of very low sulphur furnace oil (VLSFO). CII–Goa state council met with environment minister Nilesh Cabral and submitted a memorandum asking for VLSFO to be

Stricter checks hit bunker fuel demand at Chinese ports

A slowdown in port efficiency in China because of stricter Covid-19 quarantine requirements and safety checks has weighed on bunker fuel demand at Chinese ports since May. Spot demand for very low-sulphur fuel oil (VLSFO) captured by Argus at China’s largest bunkering port of Zhoushan in east China has fallen to about 2,600 t/d as