Singapore high sulfur and Marine 0.5% sulfur fuel oil price spread widened to fresh highs ahead of IMO 2020. Relatively expensive steps will be required throughout the refining circuit to rebalance products, resulting in much wider price spreads for all middle distillates compared with HSFO. Weatherford CEO exits as struggling company faces 'Chapter 22 bankruptcy', Unlimited web access from just £12.50 per month. There was a feeling that marine gasoil (MGO) would come to the fore and that there would be a significant oversupply of 0.5% high sulphur fuel oil (HSFO). Platts Oil helps to develop, connect & explain the market price of crude oil and oil products. The results were clear – the vast majority expected a delay. Globex Futures; ... real-time market data feeds. Prices for fuel oil in Rotterdam in May are trading at about an $8.20 a barrel discount to Brent crude, according to fair value data compiled by Bloomberg. The future cost of 3.5% HSFO could go as low as $220/mt. Additionally, there have been more reports of engine wear – as the sulphur acts as a lubricant, operators need to change their engine oils. Register here for the Energy Voice daily newsletter, bringing you key news and insight from across the global energy landscape. No Data Available: There has been speculation that this may be allowable if, for example, suitable fuels are not available or if a scrubber has been ordered, but not yet installed. High-sulphur fuel oil (HSFO) can also be used in some power plants, but the scrubber-fitted fleet still generates the bulk of demand for HSFO. HSFO cracks will fall sharply relative to recent history; Crude quality price differentials will widen dramatically in refinery parity with light-heavy and sweet-sour product spreads. Share Copy. Looking for online definition of HSFO or what HSFO stands for? Platts Oil helps to develop, connect & explain the market price of crude oil and oil products. Usually these are marine fuel types IFO 180 or IFO 380, which have been desulfurized. The most dramatic change was that the demand for HSFO collapsed, but so did the supply. “Owning HSFO going into tail end of Q3 2019 will be painful,” said a Singapore-based fuel oil trader. 6 Fuel Oil 3.0% (Platts) Futures stocks price quote with latest real-time prices, charts, financials, latest news, technical analysis and opinions. 05 Nov 2020; Analysis; Michelle Wiese Bockmann @Michellewb_ michelle.bockmann@informa.com. 1M 1YR Max. High sulfur fuel oil (HSFO) 3.5%: Low sulfur fuel oil (LSFO) 1.0%: Ultra low sulfur fuel oil (ULSFO) 0.1%: Low sulfur fuel oil (LSFO) Heavy fuel oils are referred to as low sulfur fuel oil (LSFO) if their sulfur content is below 1%. On occasions, HSFO actually became more difficult to purchase than VLSFO. Six months on from the passage of the IMO 2020 initiative – the International Maritime Organisation ruling that required the marine sector to reduce sulphur emissions by over 80% – how has the market responded to the new position, asks Andy Laven, COO of Sahara Energy Resources DMCC. VLSFO. There is no question now that the impact of the pandemic is likely to have a bigger effect on the marine business than even the most cynical projections around IMO 2020 would consider. The price spread between LSFO and HSFO at Singapore, a key bunker hub, plunged from a high of around $296/t in January to just around $60/t in August. HSFO 180 refer to aromatic rubber process oil with sulfure conent around 3 % . Environmental markets & indices. The benchmark, published under the data code PUAFZ00, is often referred to by many names, including No. Prices rose in December as shipowners transitioned to the IMO 2020 compliant low-sulphur fuel oil causing the VLSFO and high-sulphur fuel oil (HSFO) spread to reach record breaking levels. © Energy Voice 2020. As a result, the prices for HSFO have remained remarkably stable, despite the changes. Top HSFO acronym definition related to defence: High Sulphur Fuel Oil Much of the discussion at the time related to increased costs, lack of availability and fuel quality issues, so the response was not surprising. The volume of oil demand affected by this change is significant. Price HSFO acronym meaning defined here. Switch away from HSFO to low-sulphur fuels e.g. But what really happened? The generic term heavy fuel oil (HFO) describes fuels used to generate motion and/or fuels to generate heat that have a particularly high viscosity and density. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. 2020: A year of resolve and resilience through extraordinary upheaval, Energy directors must ask questions of their subsidiaries, SEEIT strikes £110m deal to acquire solar and storage projects in US, Octopus Energy reaches £1.5bn valuation amid Japan plans, Global ventures pay off for Craig International, More Asia Pacific firms tap loans linking rates to sustainable goals, ‘Window of opportunity’ could emerge next year as oil supply deficits emerge, Rystad says, Oilfield equipment company presented with Queen’s Award. The volume of oil demand affected by this change is significant. From January 1, 2020, the former can only be used by a vessel that has an … Singapore 403.50 0.50 Rotterdam 388.00 0.50 … Values shown are daily closing prices. Hedging for … As of May 2020, the scrubber-fitted fleet stands at 2,893 ships, or 2.9% of the combined fleet in terms of ships, but equal to 15.6% of total fleet when looking at deadweight tonne (source: Clarksons). Gulf Coast HSFO. Thank you for signing up to our newsletter. Interest Rates. What does HSFO stand for in Price? Turbulence in the financial markets sparked fears of a potential slowdown in the economy and therefore lower demand for oil. HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. US refiner demand. Two things are worthy of note. Global Gas Benchmarks. The graph shows the price of HSFO and 0.5% low sulphur fuel oil (VLSFO). Consider that the top 7 ports account for 60% of bunker demand (Singapore skews this number significantly). Download; Description. High sulfur fuel oil (HSFO) prices may start to rise on the back of restricted availability, a seminar was told. ICE Futures U.S. Fuel Oil Outright - USGC HSFO (Platts) Future. Gulf Coast No. [1] However, when considering the price of HFO it is critical to incorporate the environmental consequences and the … Although lower prices may be with us for a while, access to credit means that larger, well capitalised companies are likely to be the winners, both in the shipping and fuel supply. Prices for marine gas oil and the new blended fuel are expected to rise sharply, while HSFO prices will fall. The USGC HSFO (Platts) Average Price Option is a premium-paid-upfront option. The transition to a new fuel specification was expected to be slow. One lot, equivalent to a 1,000 mt contract, of Calendar 2020 0.5%S marine fuel FOB Rotterdam barge-3.5% FOB Rotterdam barge traded February 19 at $160/mt. Global Oil Benchmarks. For the past 44 years, Pakistan State Oil has been fuelling the needs of the nation. Now, in a recent meeting, the committee recommended that all government strategic cargo including motor gasoline, * Installing exhaust gas cleaning systems (scrubbers), which allows operation on regular high sulphur fuel oil (, It was reported that there was a crisis relating to non-utilisation of, In 2017, demand for fuel oil averaged 7.5 million barrels per day (mb/d) of which 3.5mb/d was, This leads to the forecast of price differences between LSFO and, The fact of the matter is that High Sulphur Furnace Oil (, Middle East 180cst and 380cst high-sulfur fuel oil (, KUFPEC has a topping plant on Seram island which can turn 18,000 b/d of crude oil into naphtha and, Dictionary, Encyclopedia and Thesaurus - The Free Dictionary, the webmaster's page for free fun content, FreightWaves Oil Report: The Few Market Signs On IMO 2020 Not Flashing Danger Yet, War risk costs drag on UAE marine fuel sales, benefit Singapore: trade, PNSC to be given priority in oil and LNG transportation, Oil industry wants forex exposure impact part of pricing, New IMO regulations 'will impact oil export dynamics', Cleaner Fuel Imports For Power & Industry Rise, DME lists Middle East fuel oil derivatives. 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