To obtain a representative geographical spread, the ports were selected by size with reference to their geographical importance. 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. “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 futures prices rose in Singapore market. 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 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. 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. LTD. was incorporated on 28 June 2012 (Thursday) as a Exempt Private Company Limited by Shares in Singapore. Related: SGX launch of LSFO derivative contracts to increase bunker market liquidity World 3 [? A detailed explanation of Argus Bunker Indexes can be viewed here. Its offers the marine industry another tool to hedge their risk associated with the future price of bunkers in Singapore. Follow Us On Our Preferred Social Media Platform: SGX Argus LSFO 0.5%S Singapore Bunker Index Futures now available for trading. in Ports Piraeus, Istanbul, Fujairah, Singapore, Rotterdam, Houston, Santos. Related: SGX to launch low sulphur fuel oil derivative contracts on 18 November 2019 The Bunker Price Index consist of range of prices for HSFO, VLSFO, MDO and MGO turned down across the world major ports yesterday. Find us at: BUNKER B PTE. Dubai-based Lamin Bara and Rali Bara receive promotion on the back of rapid expansion and future company direction. This section contains information concerning different aspects of bunkering, including the service providers, standards, accreditation schemes, licence application guidelines, bunkering statistics as well as mass flow meter for bunkering in Singapore. 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. 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. 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. 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). Singapore VLSFO 0.5% Price Today USD/MT, Live & Historical Price Charts 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. This page requires Javascript. 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. 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. ‘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. The stocks were the lowest since April 29, when Have news to share? Singapore bunker sales remain stable: The markets for many commodities including bunker fuel have been affected globally by the pandemic. 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. 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. 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. Singapore 330.50 0.00 Rotterdam 303.00 2.00 Houston 306.00 1.50 Fujairah 315.50 1.00 LA / … However, Singapore bunker sales remain stable to slightly higher throughout 2020, despite forecasts of a 7-17% decline in bunker fuel demand. /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. : VLSFO 0.5: MGO 0.1: World [ the pandemic offers the marine industry another tool to hedge risk... 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