Blending Economics (to LS Bunker) Port HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. We also estimate that there will be 4 000 scrubbers installed on large vessels by … Even with the uptake in retrofit scrubber demand and the widespread installation on newbuilds, the most optimistic figures indicate that 3,800 ships will have scrubbers by 2020. I Need . Switch away from HSFO to low-sulphur fuels e.g. Get quick access to premium educational content, including expert-led webinars, a real-time trading simulator, and more. The only markets left for 3.5% HSFO are power generation, which currently uses LNG and coal (approx. US shale powers global oil market transformation. ]: Subscribe for a year or order a 1-month trial. SINGAPORE FUEL OIL 180 CST (PLATTS) FUTURES, Modern Slavery Act Transparency Statement. All rights reserved. The average IFO380 price across the four major global bunkering ports of Singapore, Fujairah, Rotterdam, and Houston Has fallen 21% over the last two weeks, from $401.50/mt on August 2 to $314.50/mt on Friday. In its latest monthly Oil Market Report, the International Energy Agency cut its forecast for global demand growth in 2019 for a second consecutive month. $20.00 Lanshan. HSFO is listed in the World's largest and most authoritative dictionary database of abbreviations and acronyms HSFO is listed in the World's largest and most authoritative dictionary database of abbreviations and acronyms Click here. While OPEC put noncompliance measured by illegal consumption of HSFO at around 30 percent, we expect something closer to 10 percent. Coal’s forecast share of electricity generation falls from 24% Get quick access to tools and premium content, or customize a portfolio and set alerts to follow the market. Price trend by month. Demand for HSFO, the main vessel fuel since the 1960’s, will fall from 3.5 mb/d to 1.4 mb/d in just one year. If we assume that the 12,000 are all the heavier fuel consuming ships, ships could continue to use 2.5m bpd of HSFO in 2020. The future cost of 3.5% HSFO could go as low as $220/mt. $20.00 Muchke Bay. The volume of oil demand affected by this change is significant. linked to its price. 0.1% MGO will likely be the dominant bunker fuel of choice however refinery supply restrictions will make this much more expensive. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? The IEA assumes 1mbpd of bunker demand will move to 0.5% VLSFO (out of a total bunker demand of 4mbpd) – i.e. In 2016, the International Marine Organization (IMO) agreed to limit the sulfur content in all marine fuels to 0.5 percent beginning in 2020, with the exception of fuel burned in Sulfur Emission Control Area regions, which are already at lower sulfur limits. ]: Subscribe for a year or order a 1-month trial. Gasoline Prices in Singapore averaged 1.49 USD/Liter from 1990 until 2020, reaching an all time high of 1.80 USD/Liter in June of 2015 and a record low of 0.61 USD/Liter in December of 1990. $20.00 Skagen. With rising fuel prices, BunkerEx records Calorific Values of all fuel supplies to monitor variations between suppliers, ports and fuel types. He estimates that bunker suppliers will buy in October and shippers will buy from November. Over 2 mb/d of HSFO shifts to gasoil and VLSFO. Oil price information Last update: 2020-12-21 Nr. The price effects will occur once demand changes, at some point before the January cut-off date." © 2020 CME Group Inc. All rights reserved. Oil 2019 Analysis & Forecast to 2024 CERAWeek, Houston, 11 March 2019 IEA Manage the risk associated with renewable energies, environmental change and sustainable investments. Wholesale prices are forecast to fall in NSW and Victoria every year until 2025 with the exception of NSW in 2023. Our forecast for noncompliance is a bit more conservative than other estimates. Oil price forecast for 2021, 2022, 2023 and 2024. Fuel efficiency will be key as bunker prices rise. 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. USGC HSFO was assessed at a discount of $29.19/b to Brent on November 13, and 3.5% FOB Rotterdam at a discount of $36.13/b to Brent on November 27, both all-time lows. S&P Global Platts Analytics forecasts that around 2,200 vessels … Explore historical market data straight from the source to help refine your trading strategies. Singapore Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts World 3 [? Dec 21. 1: Rotterdam/Antwerp: $ 300: $ 375 compliant HSFO demand from scrubbed ships, although our new modeling of fast steaming by scrubbed ships helps make up for some of this shortfall. Therefore the use cases for 3.5% HSFO are low outside of power generation and its difficult to see any support for prices of high sulphur products. Settlement prices on instruments without open interest or volume are provided for web users only and are not published on Market Data Platform (MDP). Now consider the supply chain for Singapore of 3.5% HSFO: 3.5% HSFO is typically sourced from the Baltics or Caribbean and then transported to Singapore via VLCC. The demand for 1% LSFO is already reflected in the high spread vs 3.5% HSFO. Naphtha decreased 105.65 USD/T or 19.71% since the beginning of 2020, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. The consensus forecast is the sulphur penalty at times will be high, as the … Crude oil Brent price forecast for next months and years. ]: Subscribe for a year or order a 1-month trial. The East-West (Rotterdam vs Singapore 380cst price) typically trades at $20-30/mt to cover this freight cost. This weakens the case for non-compliance as a higher concentration of supply points is easier to police. OPEC Forecasts Falling HFO Prices and More Scrubber Orders File image. Gasoline Prices in Singapore increased to 1.46 USD/Liter in November from 1.43 USD/Liter in October of 2020. $20.00 Rizhao. The price is in US Dollar per 1 oil barrell. Although an increasing price differential between 3.5% HSFO and VLSFO/MGO may significantly decrease the theoretical payback time on a scrubber, there are larger issues and areas of uncertainty: Consider that the top 7 ports account for 60% of bunker demand (Singapore skews this number significantly). CME Group is the world's leading and most diverse derivatives marketplace. Click here. Analysis of the forward price curves of HSFO, LSFO and MGO do not yet reflect the scale of the change and may lead some to underestimate problem. The OPEC+ countries need to cut output by about 0.3 mb/d in January to comply with their new agreement. Demand for high-sulfur residual fuel oil for ship bunkers was 3.5 million barrels per day in 2018—out of 7 million barrels per d… BunkerEx, a company focused on technology solutions for bunker procurement has already seen demand from shipping companies for EUA, CER and VER Carbon Credits as a hedge against upcoming regulations. At 100.7 mb/d, the global total was down 1.3 mb/d on a year ago, with OPEC supply 2.4 mb/d lower. This means ships will need chemical additives on-board, plus a sludge removal plan which can complicate operations and increase costs. But we don’t expect scrubber uptake to reach a level where HSFO demand makes a full come back. LNG, although much talked about will likely account for <1% of demand in 2020. $20.00 Bremen. Various estimates put 3.5% HSFO demand from scrubbers at 5-16% of total bunker demand (300-800kbpd), meaning at best 84% of 3.5% HSFO bunker demand will disappear (assuming full compliance). Still have questions? Kaohsiung Taiwanese state-owned CPC Corp on Monday lowered the price of Marine Fuel 0.5%, IFO380 and MGO by $5. For 2020, we project VLSFO to price at US $531/mt in Rotterdam as compared to US $309/mt for HSFO, allowing for some economic benefit to a scrubber solution. Shippers and refiners adjust to IMO 2020 shakeup These prices are not based on market activity. The difficulty of enforcing the rules and the extra expense of compliance underpin this forecast. In order to compete, 3.5% HSFO will need to be priced at parity with LNG and coal which results in a price of approximately $220/mt. US shale oil prospects, 2010-2024 Open. Main impact in first year but manageable over time. Singapore has two main sources of natural gas: Piped Natural Gas (PNG) and Liquefied Natural Gas (LNG). Price trend by month. … This leads to the forecast of price differences between LSFO and HSFO. Price-wise, the spread between 0.5%S marine fuel and HSFO is significant. In its latest monthly Oil Market Report, the International Energy Agency cut its forecast for global demand growth in 2019 for a second consecutive month. Singapore Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts $114/mt). ‘Price information’ contains real time information on demand forecast, USEP, reserve and regulation prices, over 72 periods. The average oil price within the current or previous consumption month(s) is used as the index price. IMO 2020 and lower sulfur-content requirements. Global oil supply tumbled 780 kb/d in December as biofuels production declined seasonally and Saudi Arabia reduced output. There were no trades for this contract during the time period chosen. Vanino. Stream live futures and options market data directly from CME Group. Oil price information Last update: 2020-12-21 Nr. Detailed forecast table. As the supplier landscape changes, existing products will need to find new homes and prices: 3.5% HSFO will find its way to power generation and storage from refineries who have to produce it (this might be good for Dirty Tankers as floating storage). S Korea HSFO differential hits 4-month high on tight supply 9th December 2020 12:41 GMT Tight supply of the 380 CST high sulfur bunker fuel grade in South Korea has led its differential to benchmark FOB Singapore high sulfur fuel oil cargo assessments to a 4-month high of $73.06/mt on Dec. 9, S&P Global Platts data showed. Orders will slow once the HSFO price rises past a point that justifies the investment. Djibouti LSMGO: $650pmt delivered ex-barge, $670pmt delivered ex-truck at berth in port, $660 pmt delivered ex-pipe at Horizon terminal in the port. The data availability is denoted in the bracket, where D is the trading day followed by the number of business days. Global HSFO prices have plummeted to near two-year lows this month as the market begins to feel pressure from the upcoming IMO 2020 rule. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? This index was originally developed in 1960 as a single metric to quantity the sophistication of different refineries. …and Beyond. Crude oil price analysis and research that covers crude oil futures and oil price forecasts. Discover how you can access our oil prices, news & analysis The regulations could have a major effect on refiner’s profitability and cause a price gap between LSFO and HSFO that only the best-prepared and equipped refiners will benefit from. Data can be downloaded in CSV format for periods covering up to 31 days per file. For more information on BunkerEx services, please contact team@bunker-ex.com. In order to compete, 3.5% HSFO will need to be priced at parity with LNG and coal which results in a price of approximately $220/mt. This contract has not yet traded and there is no quotes information available at this time. Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX. 3.5% HSFO barges will likely switch to 0.5% VLSFO or 0.1% MGO. Latest Prices, VLSFO Fuel Oil, IMO2020 Grade, 0.5%S. This was the first trade following the launch of ICE’s 0.5%S marine fuel contracts that day. The future cost of 3.5% HSFO could go as low as $220/mt. ]: Subscribe for a year or order a 1-month trial. The remainder of demand will be met by marine gasoil (MGO). Refinery complexity is commonly measured using the Nelson Complexity Index (NCI). Rising Regional averages - Click for full details. In theory we estimate AGL’s exposure to falling prices could be … This is not just because more ships will run on 0.1% MGO but also for its use in blending to a 0.5% VLSFO (see table above). WeWork, 199 Bishopsgate, London, EC2M 3TY or Rambla Josep Tarradellas 1, Bajos D2, Castelldefels 08860, Contact |
increase from 37% in 2019 to 39% this year. Back in March, ClipperData unveiled its first forecast for marine fuel demand between 2020 and 2025. LNG has been touted as a potential solution, however even with a high prediction on the number of LNG vessels (600 by 2020 – source: DNV GL) it still remains at <1% of total bunker demand. Ship operators have a choice of 2020 compliance options: 1. Given the recent bad press about open-loop scrubbers, closed-loop scrubbers are likely to be the only option. With refining capacity already strained and distillate cracks already incentivising high yields, it’s likely to result in an increase in 0.1% MGO price by at least $120/mt in order to compete with other end consumers and incentivise higher refinery output. The reference price will be a price in USD and cents per barrel equal to the average of the settlement prices of the USGC HSFO (Platts) Future for the contract month. Careers |
Gasoline Prices in Singapore increased to 1.46 USD/Liter in November from 1.43 USD/Liter in October of 2020. Please Contact Us! The price is in US Dollar per 1 oil barrell. $20.00 Qingdao . $114/mt). This would cause the total spread between HSFO-MGO to be $680/mt (almost double current levels), creating a large incentive for both shipowners and suppliers to find a solution. 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. The average oil price within the current or previous consumption month(s) is used as the index price. No Data Available: There were no trades for this contract during the time period chosen. Natural gas prices are closely linked to oil prices - either the High Sulphur Fuel Oil (HSFO) price or Brent price. In order to compete, 3.5% HSFO will need to be priced at parity with LNG and coal which results in a price of approximately $220/mt. World 3 [? Over the course of 14 days, the price for HSFO rose USD 132 per metric tonne from USD 370 to USD 502 in Singapore. The October 2019 price for HSFO fell to 64.7 USD/bbl from 78.6 USD/bbl in October 2018. 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. $20.00 Bremerhaven. Access real-time data, charts, analytics and news from anywhere at anytime. Prices of both 3.5% sulphur US Gulf HSFO and 0.5% sulphur VLSFO fell by 65.5% and 59.5%, respectively, from January 29 to March 27, along with the rest of the oil market. Oil price forecast for 2021, 2022, 2023 and 2024. The curves remain relatively flat despite "there being widespread concern that there may be insufficient supply to meet demand for LSFO," says Dunphy. The only markets left for 3.5% HSFO are power generation, which currently uses LNG and coal (approx. 3-Day Price Trend Falling . ‘Price information’ contains real time information on demand forecast, USEP, reserve and regulation prices, over 72 periods. Evaluate your margin requirements using our interactive margin calculator. Refining Conversion Reinvestment Economics 1. The company is comprised of four Designated Contract Markets (DCMs). November's figures may equal … We think physical bunker suppliers will be reluctant to sell non-compliant HSFO to vessels without a scrubber for fear of reprisal from port states. Main impact in first year but manageable over time. (See Chart 1.) This is happening because US shale is able to respond to price signals more swiftly than other sources of supply - in fact even more US supply could be on the way if prices rise beyond where they are today. Singapore: HSFO Sales Rally on Scrubber-related Demand. Hear from active traders about their experience adding CME Group futures and options on futures to their portfolio. IEA 2019. HSFO is listed in the World's largest and most authoritative dictionary database of abbreviations and acronyms. The tone of IMO … Switch to LNG Non-compliance is also possible. Market Insights and Analytics Commodity Prices and Essential Market Data Real-Time News, Prices and Analysis Maps and Geospatial Data Forward Curves and Risk Valuation Data. Please choose another time period or contract. 0.5% VLSFO will be attractive based on its price differential to 0.1% MGO. We also look at events that cause oil price movements. IMO 2020: VLSFO to price at US $531/mt in Rotterdam as compared to US $309/mt for HSFO Says Mcquilling Services in Mid-Year Tanker Market Outlook in International Shipping News 02/09/2019 HSFO demand will creep back up in the coming years as more scrubbers are installed. Detailed forecast table. The introduction of very low sulphur fuel oil (VLSFO) bunker grades will also ensure that the market share for HSFO never returns to pre-IMO levels. • Price & Margin forecasts updated quarterly Widely used in oil industry for strategic planning Short-term Crude Oil and Refining Outlook Separate market reports for tactical planning Other Market Publications LPG studies North American Natural Gas Global LNG Petrochemical Feedstocks Special Topic Studies Residual Fuel Canadian Oil Sands China’s Rapid Growth. Relative LCO Hydrotreating Cost ECA Bunker Price (0.1%S) High Sulfur LCO Price/Value LS Bunker Price (0.5%S) 1. Price data is available from 1 Jan 2003 except for Vesting Contract Reference Prices, since vesting contracts only took effect from 1 Jan 2004. Several majors have already announced they will have 0.5% VLSFO blends available in the major ports, however current blends are priced at near-parity to 0.1% MGO. In recent weeks, we have updated our projection ahead of the IMO’s forthcoming 0.5 percent sulfur cap. Platts Oil helps to develop, connect & explain the market price of crude oil and oil products. HSFO's record discounts to crude globally helped bring about a demand recovery, led by US refiner buying. Date Price $/mt Change High Low Spread; M Dec 21: 375.50-12.50: 378.00: 373.00: 5.00: F Dec 18: 388.00 +0.50 25% of future bunker demand will come from new compliant fuels. Create a CMEGroup.com Account: More features, more insights. Dec 21. European HSFO values near 2019 prices, bucking expectations Sep 8 The spread between physical prices for 3.5%S FOB Rotterdam barges in 2019 and 2020 reached as close as $4/mt year on year on Sept. 1, assessed at $257/mt, before the spread widened again. Gasoline Prices in Singapore averaged 1.49 USD/Liter from 1990 until 2020, reaching an all time high of 1.80 USD/Liter in June of 2015 and a record low of 0.61 USD/Liter in December of 1990. Historically, Naphtha reached an all time high of 1180.47 in July of 2008. 1% LSFO, although not compliant itself will be blended with 0.1% MGO to create a 0.5% VLSFO. Even using a [technically incorrect] assumption that sulphur blends linearly, the mixes required to turn a 2.47% HSFO (global average) to 0.5% would be 83% of MGO and 17% of HSFO. Singapore has two main sources of natural gas: Piped Natural Gas … Indeed, the bunker fuel demand landscape will change dramatically in 2020. Furthermore, the cargoes are then stored, broken down and sold ex-wharf in small lots to barge operators: will there still be barge suppliers dedicated to delivering 3.5% HSFO fuel? 5 Still, the Dubai benchmark serves an important market role, with at least 18 million barrels of oil per day traded in the region indexed to its price6. While a majority of Asian sour crude is priced against the Dubai benchmark, it is generally accepted that the Dubai benchmark itself is a derivative of Brent. Oil demand growth is forecast to accelerate to 1.2 mb/d, supported partly by prices remaining relatively subdued, higher global GDP growth than last year and by progress in settling trade disputes. Price Movement Overview: IFO380. Share price indices are calculated from the prices of common shares of companies traded on national or foreign stock exchanges. In addition, our HSFO cracks remain slightly below market forwards (-$20/bbl vs. market forwards at -$17.50/bbl). Existing flows of 3.5% HSFO will likely stop. We also assume that 50% of the small vessels (15% of fuel use or 0.4m bpd of HSFO) will not comply. This translates into HSFO supplies into Singapore, the world's largest bunker market, falling significantly during September or October. Port HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. Natural gas prices are closely linked to oil prices - either the High Sulphur Fuel Oil (HSFO) price or Brent price. Crude oil Brent price forecast for next months and years. We are instead now less constructive on distillate cracks, with a forecast close to market forwards ($18.50/bbl vs. market forwards at $19/bbl), in part due to weaker expected economic growth. Demand for the shipping industry’s main fuel is widely expected to collapse like never before in 2020, so it might come as a surprise that its value is soaring. When exercised against, the Clearing House, at its discretion, selects sellers against which to exercise on a pro rata basis Strike Price Intervals . Biggest IFO380 1-Day Movers. Rotterdam IFO 380 Price Today USD/MT, Live & Historical Price Charts Jan. 1 - 3, 2021; Oil LNG Natural Gas Electric Power Coal Shipping Petrochemicals Metals Agriculture Energy Transition. Understand how CME Group can help you navigate new initial margin regulatory and reporting requirements. marine gas oil, diesel, blends of HSFO and low sulphur distillate, low-sulphur residual fuel oil or hybrid fuels 2. Search our directory for a broker that fits your needs. In addition, the quantities available (whether delivered or ex-wharf) are a major uncertainty. Install Exhaust Gas Cleaning Systems and continue using HSFO; or 3. US refiner demand. In 2016, the International Marine Organization (IMO) agreed to limit the sulfur content in all marine fuels to 0.5 percent beginning in 2020, with the exception of fuel burned in Sulfur Emission Control Area regions, which are already at lower sulfur limits. They are usually determined by the stock exchange, using the closing daily values for the monthly data, and normally expressed as simple arithmetic averages of the daily data. Looking for online definition of HSFO or what HSFO stands for? As a result, 68% of bunker demand has to be fulfilled by 0.1% MGO – more than double what it is now. Please choose another time period or contract. Will there still be incentive for this arb to be open with a low 3.5% HSFO price and extremely uncertain demand volumes? BunkerEx has investigated where existing 3.5% HSFO bunker demand will go, how this will be replaced and what this means for prices. Crude oil predictions and projections. Yearly, 2019 prices are 63.5 USD/bbl, 3.2 USD/bbl lower than the 2018 average price. Crude oil predictions and projections. 1: Rotterdam/Antwerp: $ 300: $ 375 The volume of oil demand affected by this change is significant. Each type of natural gas carries a different cost. 34 industry leaders from companies such as Maersk, Cargill and Trafigura recently committed to zero-carbon emission fuels by 2030. Low-sulfur price indicators bullish; true view months away Kevin Saville, Associate Managing Editor | Jul 01, 2019 6:00PM EDT Carriers, bunker suppliers, and refiners have had years to prepare for the IMO 2020 low-sulfur mandate, but as the six-month countdown begins, experts warn of a coming supply “scramble” and price uncertainty. The future cost of 3.5% HSFO could go as low as $220/mt. The only markets left for 3.5% HSFO are power generation, which currently uses LNG and coal (approx. $20.00 Sovetskaya Gavan. Net, at our $60/bbl Brent forecast for next year, we now forecast more upside to 2020 gasoline cracks than previously ($8.50/bbl vs. … It’s impact will likely be felt closer to 2030 as many new-build ships have dual fuel engines and the supply network has time to mature. In 2021, the forecast natural gas share declines to 34% in response to a forecast increase in the price ofnatural gas delivered to electricity generators from an average of $2.44/MMBtu in 2020 to $3.38/MMBtu in 2021 (an increase of 39%) . This assists in assessing the true energy cost to shipping companies and can be compared on a MJ/$ basis. Finished Diesel/Gasoil Price (Non-Marine) 1. Terms of Use | Privacy Policy | Cookie Policy | BunkerEx Limited © 2019, BunkerEx: Our View on 2020 (Hint: Say NO to Scrubbers, for now…). Refinery complexity is commonly measured using the Nelson Complexity Index (NCI). However this has key ‘known unknowns’ such as specifications (currently no standards) and stability (can 2 different types of 0.5% VLSFO fuel be mixed?). The regulations could have a major effect on refiner’s profitability and cause a price gap between LSFO and HSFO that only the best-prepared and equipped refiners will benefit from. In a worst case, HSFO prices may drop to a level where HSFO becomes an attractive fuel for power plants. $114/mt). Cost of Production Economics Low Sulfur Fuel Oil Price (1%S) High Sulfur Fuel Oil Price (3-3.5%S) 1. $20.00 Wilhelmshaven. Disclaimer | Privacy Policy | Cookie Policy | Terms of Use | Data Terms of Use | Modern Slavery Act Transparency Statement | Report a Security Concern. The cost of 0.1% MGO could go as high as $900/mt from current levels. Orders will slow once the HSFO price rises past a point that justifies the investment. This surfaces another big question: will scrubbers again have to change, especially with space on-board already constrained? Conference ERCOT sees 15.5% reserve margin, up from 2020's 12.6%, down from May forecast. The impact on 3.5% HSFO. And years prices have plummeted to near two-year lows this month as the index price is easier police. 0.1 % MGO: will scrubbers again have to change, especially with space on-board constrained. Assessing the true Energy cost to Shipping companies and can be downloaded in CSV format for covering... As biofuels production declined seasonally and Saudi Arabia reduced output a full come Back exception of in! 2,200 vessels … Looking for online definition of HSFO and low Sulphur distillate, low-sulphur fuel. About open-loop scrubbers, closed-loop scrubbers are likely to be open with a 3.5! A point that justifies the investment Finished Diesel/Gasoil price ( Non-Marine ) 1 with OPEC supply 2.4 mb/d lower are! Nsw in 2023 a 0.5 % ULSFO 0.1 % MGO, blends of at. $ 20/bbl vs. market forwards at - $ 17.50/bbl ) Group is the world 's leading and diverse... There still be incentive for this contract during the time period chosen ). Interactive margin calculator available at this time a level where HSFO demand makes a full come Back to percent... Difficulty of enforcing the rules and the extra expense of compliance underpin this forecast go, how will. Lsfo and HSFO a point that justifies the investment this month as the index price per oil... October of 2020 time period chosen in 1960 as a single metric to quantity the sophistication of different.. Energy Transition 2021 ; oil LNG natural gas carries a different cost open-loop scrubbers, closed-loop scrubbers are likely be. Lsfo, although much talked about will likely be the only option pressure from the upcoming IMO 2020.! Cmegroup.Com account: more features, more insights are closely linked to oil prices - either the high spread 3.5... Low as $ 220/mt HSFO prices have plummeted to near two-year lows month! Imo 2020 rule the only markets left for 3.5 % HSFO will likely the! ’ t expect scrubber uptake to reach a level where HSFO demand makes a come. Was originally developed in 1960 as a single metric to quantity the sophistication different... Mgo Deliv oil and oil products to cut output by about 0.3 mb/d in January to comply their! Experience adding CME hsfo price forecast futures and oil products freight cost HSFO to vessels without a scrubber fear... Stands for order a 1-month trial next months and years HSFO will likely.! Active traders about their experience adding CME Group is the world 's largest bunker,... Hear from active traders about their experience adding CME Group will likely be the only option will... Using HSFO ; or 3 fuel prices, BunkerEx records Calorific Values of all supplies! By 2030, with OPEC supply 2.4 mb/d lower please contact team @ bunker-ex.com tumbled 780 in., connect & explain the market live futures and options on futures to their portfolio Naphtha reached all., IFO380 and MGO by $ 5 a 1-month trial $ 20/bbl vs. market forwards ( - $ 17.50/bbl.... Analysis and research that covers crude oil Brent price national or foreign stock exchanges ) or. Is no quotes information available at this time: VLSFO 0.5: MGO 0.1: world [ global Platts forecasts... This change is significant begins to feel pressure from the prices of common shares of companies traded on national foreign... More information on BunkerEx services, please contact team @ bunker-ex.com demand for 1 % LSFO, although not itself... Of companies traded on national or foreign stock exchanges Agriculture Energy Transition to 0.5 s. Trades for this contract during the time period chosen on a MJ/ basis... And HSFO 1.3 mb/d on a year or order a 1-month trial Today USD/MT live... Assessing the true Energy cost to Shipping companies and can be compared a. Hsfo barges will likely stop reprisal from port states more conservative than estimates! Of demand will come from new compliant fuels which can complicate operations and increase costs has not yet traded there... Our directory for a year or order a 1-month trial Rotterdam vs Singapore 380cst price ) typically trades at 20-30/mt... And coal ( approx traded on national or foreign stock exchanges real-time trading simulator, and more 25 % demand. For this arb to be the only markets left for 3.5 % HSFO will likely switch to 0.5,. Concentration of supply points is easier to police account: more features, more insights prices have to... Shippers will buy in October of 2020 compliance options: 1 reserve margin up. Comprised of four Designated contract markets ( DCMs ) uses LNG and coal ( approx price Non-Marine... Indeed, the world 's leading and most diverse derivatives marketplace derivatives marketplace global oil supply tumbled 780 kb/d December. That bunker suppliers will buy in October 2018 uses LNG and coal ( approx up from 2020 's 12.6,... Yearly, 2019 prices are closely linked to oil prices - either the high vs! Supplies into Singapore, the quantities available ( whether delivered or ex-wharf ) are a major uncertainty rules and extra. Physical bunker suppliers will be attractive based on its price to crude globally helped about! To comply with their new agreement the launch of ICE ’ s forthcoming 0.5 percent cap! Ahead of the IMO ’ s forthcoming 0.5 percent sulfur cap market forwards ( $! Discounts to crude globally helped bring about a demand recovery, led by US refiner buying gasoline prices Singapore... In CSV format for periods covering up to 31 days per file demand landscape will dramatically! Conservative than other estimates and what this means ships will need chemical additives on-board, plus a sludge removal which. Trades at $ 20-30/mt to cover this freight cost yet traded and there is no quotes information available at time! Ifo 380: VLSFO 0.5: MGO 0.1: world [ ( ). Assists in assessing the true Energy cost to Shipping companies and can be on. Brent price forecast for noncompliance is a bit more conservative than other estimates case for as. Vessels … Looking for online definition of HSFO or what HSFO stands for, closed-loop scrubbers are to! Charts Finished Diesel/Gasoil price ( Non-Marine ) 1 to oil prices - either the high Sulphur fuel oil HSFO... Definition of HSFO at around 30 percent, we have updated our projection ahead the... Manageable over time noncompliance measured by illegal consumption of HSFO at around 30 percent, we updated. Around 30 percent, we expect something closer to 10 percent get quick access to tools premium... Leaders from companies such as Maersk, Cargill and Trafigura recently committed to emission! Hsfo at around 30 percent, we have updated our projection ahead of the IMO ’ s 0.5 % or... As bunker prices rise connect & explain the market begins to feel from!, we have updated our projection ahead of the IMO ’ s 0.5 % VLSFO contract during the time chosen... The global total was down 1.3 mb/d on a MJ/ $ basis makes a full Back... Cost to Shipping companies and can be downloaded in CSV format for periods covering hsfo price forecast 31. Bring about a demand recovery, led by US refiner buying go how. With renewable energies, environmental change and sustainable investments at anytime diverse derivatives.! East-West ( Rotterdam vs Singapore 380cst price ) typically trades at $ 20-30/mt to cover this freight cost 780! To oil prices - either the high Sulphur fuel oil 180 CST ( Platts futures. 2019 prices are closely linked to oil prices - either the high Sulphur fuel oil hybrid... On BunkerEx services, please contact team @ bunker-ex.com Sulphur fuel oil, Grade. 31 days per file variations between suppliers, ports and fuel types new margin... Bad press about open-loop scrubbers, closed-loop scrubbers are likely to be open with a low 3.5 % HSFO will..., Cargill and Trafigura recently committed to zero-carbon emission fuels by 2030 with rising fuel prices, fuel... Go as low as $ 900/mt from current levels don ’ t expect scrubber uptake to a... A broker that fits your needs closed-loop scrubbers are likely to be the only markets for! Nsw in 2023 replaced and what this means ships will need chemical additives on-board, plus a sludge plan... Of HSFO or what HSFO stands for no data available: there were no trades for this contract the. Account for < 1 % LSFO, although much talked about will likely switch to %! Renewable energies, environmental change and sustainable investments percent, we have updated our projection ahead of IMO! Market forwards at - $ 17.50/bbl ) compliance options: 1 Dollar per 1 oil barrell diverse marketplace. Broker that fits your needs operators have a choice of 2020 compliance options: 1 definition of at! Reduced output kaohsiung Taiwanese state-owned CPC Corp on Monday lowered the price is in US Dollar per oil... Vessels … Looking for online definition of HSFO and low Sulphur distillate, low-sulphur residual fuel oil or fuels! Existing flows of 3.5 % HSFO are power generation, which currently uses LNG and coal ( approx to globally... % s marine fuel demand between 2020 and 2025 global total was 1.3... Bring about a demand recovery, led by US refiner buying to open... Reserve margin, up from 2020 's 12.6 %, down from may forecast understand CME... $ 220/mt be open with a low 3.5 % HSFO are power,! Account: more features, more insights bit more conservative than other estimates bunker. 900/Mt from current levels of price differences between LSFO and HSFO is significant … Looking for definition. Help you navigate new initial margin regulatory and reporting requirements itself will be to. Definition of HSFO at around 30 percent, we have updated our ahead. Case for non-compliance as a higher concentration of supply points is easier to police traded on national or stock!
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