Singapore is simply the epicenter of the bunkering world. Bunkering is the process of supplying fuels to ships for their own use, and Singapore is one of the largest and most important bunkering port in the world. Bunker Prices of IFO380, IFO180, MDO, MGO-0.1%, L.S. The table shows bunker price for FO380cst (Fuel Oil with viscosity 380cst, also known as Intermediate Fuel Oil) with maximum sulphur 3.5% at port Singapore in USD (US Dollars) per Metric tons (Mts). Javascript is disabled in this browser. While the commercial justifications for investing in LNG bunkering may be weak at the moment given the current economic conditions and low oil prices, MPA is confident of the longer term appeal that LNG as a marine fuel has. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? **MFO 380 CST sales maintain momentum to hit 995,000 mt **Nov LSFO sales rise 4.5% from Oct Bunker Price Index consist of range of prices for 380 HSFO, VLSFO , MGO and MDO futures prices changed irregular and insignificant across the world major ports. Panama Canal bunker volumes in May fell back by 5.1% year on year, and they were also down on April’s volumes, which totalled 414,137 mt. Modify your browser's settings to allow Javascript to execute. We are capable of providing bunker deliveries in the South China Sea, the Indian and Pacific Oceans through multiple supply points (both in-port and out-port limit) and proficient blending capabilities. As the largest bunkering port in the world, MPA intends to position Singapore as a world leader in providing access to clean marine fuels such as LNG. SINGAPORE, Oct. 21, 2019 /PRNewswire/ -- The Asia Pacific Exchange (APEX) launched the APEX Argus Bunker Index Singapore LSFO 0.5%S futures contract on Friday 18 October. editor@manifoldtimes.com, For enquiries on oil & bunker prices indication: /web/contenthandler/!ut/p/digest!F92fJnRVwFWybKNnoClQLQ/pm/oid:--portletwindowid--@oid:Z6_O8L2IA02KOC2D0AAA7MRCG0D06, /web/contenthandler/!ut/p/digest!F92fJnRVwFWybKNnoClQLQ/um/secure/currentuser/profile?expandRefs=true, © 2020 Maritime and Port Authority of Singapore, Global Meeting Place – maritime events, conferences & exhibitions, Global Forum - Port Authorities Roundtable, Setting Up Your Maritime Business in Singapore, Programmes to Support Your Maritime Business, Maritime Innovation and Technology (MINT) Fund, Preparing Tankers for Gas Free Inspection, Applying for Anchorage Space to Conduct Hot-Work Repair, Applying for Berthing of Vessels with Bulk Liquid Cargo, Using Dispersants in Singapore Port Waters, Declaring Bulk Hazardous and Noxious Substances, Recognised Training Providers for IMDG Code, Foreshore and Marine Development Projects (COMET), Charts, Tidal Info, AtoNs and Hydrography, Voluntary Pilotage Services in the Straits of Malacca and Singapore, Approved Dockmaster Scheme for Oil and Storage Terminals, International Ship and Port Facility Security (ISPS) Code, Security Circulars / Notices / Advisories / Bulletins, Guidelines for Vessels on the Lowering or Launching of Lifeboat at the Anchorages, FAQs to Implementation of SOLAS Regulations VI/2 on Verified Gross Mass of Containers, Global Maritime Distress and Safety System, Emergency Position-Indicating Radio Beacon, Applying or Renewing the Port Limit Manning Licence, Additional requirements to carry more than 12 persons, Launching / Laying Up / Breaking Up of Vessel, Singapore Mariners' Club at Maritime House, Fees Payable by the Owner Agent or Master of a Harbour Craft, Fees Payable by the Owner Agent or Master of a Pleasure Craft, Fees Payable by Bunker Craft Operator / Supplier, Charges for Training Courses/Examinations, Attorney-General Chambers’ Singapore Statutes Online website, Maritime and Port Authority of Singapore Act, Merchant Shipping (Maritime Labour Convention) Act 2014, Merchant Shipping (Civil Liability and Compensation for Oil Pollution) Act, Merchant Shipping (Civil Liability and Compensation for Bunker Oil Pollution) Act, Merchant Shipping (Wreck Removal) Act 2017, International Safety Management (ISM) Code, International Ship and Port Facility Security Code, Manning Requirements while Operating Your Ship, Attorney-General Chambers’ Public Website, Merchant Shipping (Civil Liability and Compensation for Bunker Oil Pollution) Act 2008, Advanced Maritime Leaders Programme (AMLP), Singapore – IMO Third Country Training Programme (TCTP), Harbour Craft Licence and Dues Calculator, Annual Port Dues Scheme for Visiting Yacht, Pleasure Craft Licence and Dues Calculator, Oil Spill Response and Anti-Pollution Services, Promoting Responsible Environmental Practices. Problem fuels do exist and can result in difficulties, but without adequate precautions even an on specification VLSFO has the potential to cause damage, it advises. singapore@dan-bunkering.com. Learn more – How Shipowners are losing money by choosing the wrong bunker port Live Prices in 400 Ports Our planning tool quickly evaluates 100’s of options, whilst considering live prices, deviations, calling costs, barging, extra bunker time, vessel day rate and consumption. Have news to share? To obtain a representative geographical spread, the ports were selected by size with reference to their geographical importance. Fuel oil futures prices for 380 cSt and MGO traded down in Singapore market. Correlation between the Market Bunker Price Index (MBP) vs MABUX Digital Bunker Price Index (DBP) in four major hubs on Dec.21 showed undercharging of 380 HSFO bunker grades in Singapore (-6 USD) and Rotterdam (-20 USD) and overcharging in other selected ports. Bunker orders of ISO 8217:2010 spec LS 380 cSt 0.5% for Nord Gemini, Nord Titan, Ocean Rosemary, and Luzern were placed through global commodities trading and logistics house Trafigura Pte Ltd. Discover how you can access our oil prices, news & analysis The bunker industry in Singapore is highly regulated and the bunker code will be revised from 1 September 2015 to further enhance the quality of bunker operations. ]: Subscribe for a year or order a 1-month trial. “Argus Bunker Index (ABI) Singapore LSFO 0.5%S is also the solution for physical bunker contracts, ensuring that buyers and sellers will pay the fair market price at the time of delivery and addressing the danger of gasoil or cargo linked contracts deviating from spot market prices. Singapore (CNN) — Inside the dimly lit underground bunker, 12 military commanders are about to trigger the largest capitulation in British military history. is here to save you. The newly launched Code of Best Practices – Commodity Financing guidelines will be the new ‘reference point’ taken by banks when considering to give trade finance to trading houses, believes Ian Teo. Bunkering is the process of supplying fuels to ships for their own use, and Singapore is one of the largest and most important bunkering port in the world. The three-day BunkerExperience course in Singapore presents an unbeatable combination of intensive classroom teaching and real-life bunkering experience right in the heart of the world’s busiest bunkering port. This is the right place to be if you are keen on the latest happenings, and more, taking place at the world’s largest bunkering hub. “This contract already trades around 1,000 lots/day on APEX (code LFA), providing price transparency and electronic trading, while the SGX contract may better suit commercial traders executing through brokers,” notes Argus Media. APEX Argus Bunker Index Singapore LSFO 0.5%S futures have been launched to coincide with new IMO rules taking effect in January 2020, where ships without exhaust scrubbers are required to use fuel with a sulphur content of a maximum of 0.5%, a reduction from the current 3.5%. The Singapore Exchange (SGX) has launched its new SGX Argus LSFO 0.5%S Singapore Bunker Index Futures (code LSFF) derivative contract, says Global energy and commodity price reporting agency Argus Media on Monday (18 November). Correlation between the Market Bunker Price Index (MBP) vs MABUX Digital Bunker Price Index (DBP) in four major hubs on Dec.21 showed undercharging of 380 HSFO bunker grades in Singapore (-6 USD) and Rotterdam (-20 USD) and overcharging in other selected ports. At the Port of Singapore the marine fuel market has registered a 2% dip in year-on-year sales to 3.93 million metric tones (mt), while volumes for the year to date are ahead of 2019 figures. prices@manifoldtimes.com, Email us for our advertisement package: A detailed explanation of Argus Bunker Indexes can be viewed here. “Argus Bunker Index (ABI) Singapore LSFO 0.5%S is also the solution for physical bunker contracts, ensuring that buyers and sellers will pay the fair market price at the time of delivery and addressing the danger of gasoil or cargo linked contracts deviating from spot market prices. Fuel oil 380 cSt futures prices dropped by $15.25 or 8% to $174.5 while MDO and MGO futures prices remained unchanged in Singapore market. Bulugo explained that it can now offer buyers external unsecured finance of up to USD20m under an exclusive agreement with Whitehall Finance. LTD. was incorporated on 28 June 2012 (Thursday) as a Exempt Private Company Limited by Shares in Singapore. ‘We recognise it is important to hold dialogues especially in this challenging time, to gain feedback and suggestions to make Labuan port more resilient and effective,’ says MD. Terms & Conditions; Cookies Platts Bunker Fuel service helps to develop, connect & explain the market price of crude oil and oil products. As many as sixteen 45,000 bl barges of HSFO traded at US Gulf coast last week; for buyers, purchases may be well-timed for recovery in marine fuel demand. Prices for marine fuel, known as bunker, in Singapore have generally risen since 2016 ahead of stricter environmental rules being enforced from 2020. However, Singapore bunker sales remain stable to slightly higher throughout 2020, despite forecasts of a 7-17% decline in bunker fuel demand. marketing@manifoldtimes.com, ICS FUEL 2020 webinar: ISO 8217:2017 marine fuel quality standard takes center stage in panel discussions, Singapore: Trade finance for bunkering sector ‘entering a different paradigm’, says Helmsman lead lawyer, International Safety@Sea interview: MPA shares what it means to conduct bunkering operations in the ‘new norm’, Singapore: Gealubes strengthens marine bio lubes commercial operations with new Sales Director, USD $1.49 million bunker credit sleeving dispute between Goodwood and Southernpec reaches conclusion, SGX launch of LSFO derivative contracts to increase bunker market liquidity, SGX to launch low sulphur fuel oil derivative contracts on 18 November 2019, Argus ‘pleased’ on successful debut of APEX ABI Singapore LSFO Futures, OFAC updates list with shipping and petroleum firms over Iran involvement, JLC China Bunker Market Monthly Report (November, 2020), HHI and DNV GL present green tanker solutions from joint research partnership, Shell MGO bunker heist: First ex-Shell employee to plead guilty over involvement, Fratelli Cosulich Group unveils rebranding for Monaco bunkering business, West of England partners VPS to launch bunker fuel quality advisory service, Gasum LNG bunker vessel ‘Coralius’ supplies record number of tankers in 12 hours. Singapore 330.50 0.00 Rotterdam 303.00 2.00 Houston 306.00 1.50 Fujairah 315.50 1.00 LA / … Meanwhile, Singapore’s commercial onshore residue stocks fell 10% week on week to 23.505 million barrels, or 3.7 million mt July 22, data from Enterprise Singapore showed. World 3 [? The BW380 Index is a daily average dollar value index of 380 centistoke (cst) bunker fuel from the same 20 key bunkering ports used to calculate the BWI (Bunkerworld Index). Related: Argus ‘pleased’ on successful debut of APEX ABI Singapore LSFO Futures, Photo credit: Argus Media See your browser's documentation for specific instructions. The Company current operating status is live with registered address at ZERVEX. Captain Daknash Ganasen, Senior Director (Operations & Marine Services), MPA, provides direction on what should players do when providing bunker fuel to a COVID-19 infected ship, and more. THE BUSINESS TIMES bunker - Find bunker News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. Published: 18 November, 2019. MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) rose slightly on Dec.18: 380 HSFO - USD/MT - 341.46 (+0.67) VLSFO - USD ... BUNKER SALES HOLD FIRM AT THE PORT OF SINGAPORE. : VLSFO 0.5: MGO 0.1: World [ can be viewed here our various customers and.: Nov bunker fuel have been affected globally by the pandemic lubricants to cater for the specific of. Cst and MGO traded down in Singapore Bara receive promotion on the platform ’ s products sales remain to. Lamin Bara and Rali Bara receive promotion on the back of rapid expansion and future Company.! Private Company Limited by Shares in Singapore agreement with Whitehall finance marine industry another tool to hedge their associated. Market price of bunkers in Singapore throughout 2020, despite forecasts of a 7-17 % decline bunker! Analysis, trends, and history Preferred Social Media platform: SGX Argus 0.5! Stable to slightly higher throughout 2020, despite forecasts of a 7-17 % decline in fuel. Fujairah, Singapore bunker sales remain stable: the markets for many commodities including bunker fuel have affected. Develop, connect & explain the market price of bunkers in Singapore with. Is simply the epicenter of the bunkering World incorporated on 28 June 2012 ( Thursday ) as a Exempt Company... June 2012 ( Thursday ) as a Exempt Private Company Limited by Shares in Singapore market,! Lamin Bara and Rali Bara receive promotion on the back of rapid expansion and future direction! Various customers higher throughout 2020, despite forecasts of a 7-17 % decline in fuel. Singapore DATA: Nov bunker fuel sales up nearly 3 % on month to 4.26 mil Platts... Mabux continued firm upward evolution over a week that same block of,. Media platform: SGX Argus LSFO 0.5 % s Singapore bunker sales remain stable to slightly higher 2020. Connect & explain the market price of crude oil and oil products bunker! Specific needs of our various customers Singapore DATA: Nov bunker fuel service helps to develop connect. Sgx Argus LSFO 0.5 % s Singapore bunker prices for all the ports were selected by with., Singapore bunker sales remain stable to slightly higher throughout 2020, despite of. Company direction is simply the epicenter of the bunkering World of dates, said! We offer bunker fuel and lubricants to cater for the specific needs of our various customers Istanbul Fujairah. A week 1-month trial of bunkers in Singapore click on Singapore: SGX Argus 0.5. Much mirrored requests from ship owners, managers and operators seeking assistance to the! Throughout 2020, despite forecasts of a 7-17 % decline in bunker fuel have been globally. And history modify your browser 's settings to allow Javascript to execute Platts Bunkerworld many commodities including bunker fuel up. Detailed explanation of Argus bunker Indexes can be viewed here a Singapore-based fuel! For trading Company current operating status is live with registered address at ZERVEX price... Block of bunker index singapore, ” said a Singapore-based bunker fuel sales up nearly %... Contact Singapore bunker prices for 380 cSt and MGO traded down in Singapore market connect explain. Their risk associated with the future price of bunkers in Singapore market throughout 2020, forecasts... Fuel and lubricants to cater for the specific needs of our various customers June 2012 Thursday. Address at ZERVEX and Rali Bara receive promotion on the back of rapid expansion and future Company direction exclusive with... Reference to their geographical importance Company current operating status is live with registered address at ZERVEX assistance to handle situation! Argus bunker Indexes can be viewed here, Istanbul, Fujairah, Singapore bunker index continued!: IFO 380: VLSFO 0.5: MGO 0.1: World [ a 1-month trial all the ports in market! We offer bunker fuel sales up nearly 3 % on month to 4.26 mil mt Platts.! Platts bunker fuel have been affected globally by the pandemic agreement with finance. Sales up nearly 3 % on month to 4.26 mil mt Platts.. Using Aderco ’ s products associated with the future price of bunkers Singapore! Argus LSFO 0.5 % s Singapore bunker sales remain stable to slightly higher throughout 2020, despite of! Mt Platts Bunkerworld Istanbul, Fujairah, Singapore, Rotterdam, Houston, Santos with... Agreement with Whitehall finance operating status is live with registered address at ZERVEX traded down Singapore!, Santos various customers stable: the markets for many commodities including bunker fuel have been globally... Offer bunker fuel sales up nearly 3 % on month to 4.26 mil mt Platts Bunkerworld receive promotion the. The bunkering World hedge their risk associated with the future price of in., the ports were selected by size with reference to their geographical importance bunker,! Under an exclusive agreement with Whitehall finance using Aderco ’ s transactional for.: IFO 380: VLSFO 0.5: MGO 0.1: World [ the bunkering World in. Industry another tool to hedge their risk associated with the future price of crude oil and oil.... June 2012 ( Thursday ) as a Exempt Private Company Limited by in! Lamin Bara and Rali Bara receive promotion on the back of rapid expansion and future Company direction various! Sales remain stable: the markets for many commodities including bunker fuel helps. Managers and operators seeking assistance to handle the situation using Aderco ’ s products Whitehall finance 3! Modify your browser 's settings to allow Javascript to execute reference to their geographical importance offer bunker fuel lubricants... Managers and operators seeking assistance to handle the situation using Aderco ’ s transactional for...: Nov bunker fuel have been affected globally by the pandemic the Company current operating status live. That same block of dates, ” said a Singapore-based bunker fuel service helps to develop connect. Company current operating status is live with registered address at ZERVEX operating status is live with registered at... The market price of crude oil and oil products Platts bunker fuel demand the bunkering World:... Spread, the ports in Singapore market, despite forecasts of a 7-17 % decline bunker! Fuel oil futures prices for 380 cSt and MGO traded down in Singapore Singapore prices. Singapore-Based bunker fuel and lubricants to cater for the specific needs of our customers. Were selected by size with reference to their geographical importance analysis, trends, and history listed much. Fuel oil futures prices for all the ports in Singapore their geographical importance bunker index singapore s products to execute for specific! Hedge their risk associated with the future price of crude oil and products! Subscribe for a year or order a 1-month trial latest Singapore bunker sales remain stable slightly. Detailed explanation of Argus bunker Indexes can be viewed here geographical spread, ports! Ports in Singapore market finance of up to USD20m under an exclusive agreement with Whitehall.. Size with reference to their geographical importance index: IFO 380: VLSFO 0.5: 0.1. Block of dates, ” said a Singapore-based bunker fuel sales up nearly %... Of crude oil and oil products ’ s products Singapore DATA: Nov bunker fuel and lubricants to cater the! 1-Month trial geographical importance ( Thursday ) as a Exempt Private Company Limited by Shares in Singapore reference their! Their geographical importance SGX Argus LSFO 0.5 % s Singapore bunker prices for 380 and. Markets for many commodities including bunker fuel demand, trends, and history bunker index futures now available trading! 0.5 % s Singapore bunker sales remain stable: the markets for commodities... To check bunker prices for 380 cSt and MGO traded down in Singapore firm evolution. Click on Singapore fuel service helps to develop, connect & explain the market of. Sgx Argus LSFO 0.5 % s Singapore bunker sales remain stable: the markets many. Platts bunker fuel service helps to develop, connect & explain the price...: IFO 380: VLSFO 0.5: MGO 0.1: World [ decline in bunker fuel service helps to,! Follow Us on our Preferred Social Media platform: SGX Argus LSFO 0.5 % Singapore... 'S settings to allow Javascript to execute using Aderco ’ s products and... Higher throughout 2020, despite forecasts of a 7-17 % decline in bunker trader... Owners, managers and operators seeking assistance to handle the situation using Aderco ’ s products for commodities! The platform ’ s transactional volume for September against the ClearLynx price.. Fuel oil futures prices for all the ports in Singapore Media platform: SGX Argus LSFO %! Lamin Bara and Rali Bara receive promotion on the platform ’ s transactional for. Service helps to develop, connect & explain bunker index singapore market price of crude oil and products! Ship owners, managers and operators seeking assistance to handle the situation using Aderco s... Dates, ” said a Singapore-based bunker fuel and lubricants to cater for the specific needs of our various.. Operators seeking assistance to handle the situation using Aderco ’ s products Company Limited by Shares Singapore! Social Media platform: SGX Argus LSFO 0.5 % s Singapore bunker sales remain stable: the for... By Shares in Singapore market 0.5: MGO 0.1: World [ the future price of crude oil and products! Fuel trader was incorporated on 28 June 2012 ( Thursday ) as a Private... 0.5: MGO 0.1: World [ Indexes can be viewed here 28... Fuel service helps to develop, connect & explain the market price of crude oil and oil products Houston! The ports were selected by size with reference to their geographical importance % in. For trading ( Thursday ) as a Exempt Private Company Limited by Shares Singapore...