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. Wholesale prices are forecast to fall in NSW and Victoria every year until 2025 with the exception of NSW in 2023. The only markets left for 3.5% HSFO are power generation, which currently uses LNG and coal (approx. Please Contact Us! This index was originally developed in 1960 as a single metric to quantity the sophistication of different refineries. Crude oil predictions and projections. 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. In addition, the quantities available (whether delivered or ex-wharf) are a major uncertainty. Get quick access to tools and premium content, or customize a portfolio and set alerts to follow the market. As a result, 68% of bunker demand has to be fulfilled by 0.1% MGO – more than double what it is now. Fuel efficiency will be key as bunker prices rise. We also assume that 50% of the small vessels (15% of fuel use or 0.4m bpd of HSFO) will not comply. 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. ]: Subscribe for a year or order a 1-month trial. Shippers and refiners adjust to IMO 2020 shakeup Our forecast for noncompliance is a bit more conservative than other estimates. Platts Oil helps to develop, connect & explain the market price of crude oil and oil products. Orders will slow once the HSFO price rises past a point that justifies the investment. Refinery complexity is commonly measured using the Nelson Complexity Index (NCI). Singapore Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts The price effects will occur once demand changes, at some point before the January cut-off date." 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. In addition, our HSFO cracks remain slightly below market forwards (-$20/bbl vs. market forwards at -$17.50/bbl). The introduction of very low sulphur fuel oil (VLSFO) bunker grades will also ensure that the market share for HSFO never returns to pre-IMO levels. Install Exhaust Gas Cleaning Systems and continue using HSFO; or 3. They are usually determined by the stock exchange, using the closing daily values for the monthly data, and normally expressed as simple arithmetic averages of the daily data. ]: Subscribe for a year or order a 1-month trial. Looking for online definition of HSFO or what HSFO stands for? Rising Regional averages - Click for full details. This assists in assessing the true energy cost to shipping companies and can be compared on a MJ/$ basis. Careers | Crude oil predictions and projections. 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. Please choose another time period or contract. He estimates that bunker suppliers will buy in October and shippers will buy from November. 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. Oil 2019 Analysis & Forecast to 2024 CERAWeek, Houston, 11 March 2019 IEA 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? 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. Coal’s forecast share of electricity generation falls from 24% Port HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. This means ships will need chemical additives on-board, plus a sludge removal plan which can complicate operations and increase costs. 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. $20.00 Wilhelmshaven. $20.00 Rizhao. Dec 21. Search our directory for a broker that fits your needs. Finished Diesel/Gasoil Price (Non-Marine) 1. 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). Cost of Production Economics Low Sulfur Fuel Oil Price (1%S) High Sulfur Fuel Oil Price (3-3.5%S) 1. 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. Singapore Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts Explore historical market data straight from the source to help refine your trading strategies. 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. 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. Create a CMEGroup.com Account: More features, more insights. linked to its price. Hear from active traders about their experience adding CME Group futures and options on futures to their portfolio. Switch to LNG Non-compliance is also possible. Over 2 mb/d of HSFO shifts to gasoil and VLSFO. Dec 21. The company is comprised of four Designated Contract Markets (DCMs). 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. ]: Subscribe for a year or order a 1-month trial. 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. This contract has not yet traded and there is no quotes information available at this time. $20.00 Bremen. compliant HSFO demand from scrubbed ships, although our new modeling of fast steaming by scrubbed ships helps make up for some of this shortfall. With rising fuel prices, BunkerEx records Calorific Values of all fuel supplies to monitor variations between suppliers, ports and fuel types. The average oil price within the current or previous consumption month(s) is used as the index price. increase from 37% in 2019 to 39% this year. ]: Subscribe for a year or order a 1-month trial. 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. Existing flows of 3.5% HSFO will likely stop. HSFO is listed in the World's largest and most authoritative dictionary database of abbreviations and acronyms. LNG, although much talked about will likely account for <1% of demand in 2020. $114/mt). 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. SINGAPORE FUEL OIL 180 CST (PLATTS) FUTURES, Modern Slavery Act Transparency Statement. Main impact in first year but manageable over time. $20.00 Muchke Bay. Blending Economics (to LS Bunker) Gasoline Prices in Singapore increased to 1.46 USD/Liter in November from 1.43 USD/Liter in October of 2020. Given the recent bad press about open-loop scrubbers, closed-loop scrubbers are likely to be the only option. 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. 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. Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX. HSFO's record discounts to crude globally helped bring about a demand recovery, led by US refiner buying. 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?). 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. Natural gas prices are closely linked to oil prices - either the High Sulphur Fuel Oil (HSFO) price or Brent price. Each type of natural gas carries a different cost. For more information on BunkerEx services, please contact team@bunker-ex.com. Back in March, ClipperData unveiled its first forecast for marine fuel demand between 2020 and 2025. The future cost of 3.5% HSFO could go as low as $220/mt. Vanino. 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. The volume of oil demand affected by this change is significant. Latest Prices, VLSFO Fuel Oil, IMO2020 Grade, 0.5%S. The tone of IMO … $20.00 Bremerhaven. This translates into HSFO supplies into Singapore, the world's largest bunker market, falling significantly during September or October. … BunkerEx has investigated where existing 3.5% HSFO bunker demand will go, how this will be replaced and what this means for prices. Click here. IEA 2019. World 3 [? In a worst case, HSFO prices may drop to a level where HSFO becomes an attractive fuel for power plants. The cost of 0.1% MGO could go as high as $900/mt from current levels. 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. 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 Yearly, 2019 prices are 63.5 USD/bbl, 3.2 USD/bbl lower than the 2018 average price. WeWork, 199 Bishopsgate, London, EC2M 3TY or Rambla Josep Tarradellas 1, Bajos D2, Castelldefels 08860, Contact | 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. Click here. The consensus forecast is the sulphur penalty at times will be high, as the … ‘Price information’ contains real time information on demand forecast, USEP, reserve and regulation prices, over 72 periods. Conference ERCOT sees 15.5% reserve margin, up from 2020's 12.6%, down from May forecast. Global oil supply tumbled 780 kb/d in December as biofuels production declined seasonally and Saudi Arabia reduced output. 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. The price is in US Dollar per 1 oil barrell. Singapore has two main sources of natural gas: Piped Natural Gas (PNG) and Liquefied Natural Gas (LNG). 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. 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. S&P Global Platts Analytics forecasts that around 2,200 vessels … Oil price information Last update: 2020-12-21 Nr. 1% LSFO, although not compliant itself will be blended with 0.1% MGO to create a 0.5% VLSFO. We also look at events that cause oil price movements. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? Jan. 1 - 3, 2021; Oil LNG Natural Gas Electric Power Coal Shipping Petrochemicals Metals Agriculture Energy Transition. Price-wise, the spread between 0.5%S marine fuel and HSFO is significant. 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). Please choose another time period or contract. The price is in US Dollar per 1 oil barrell. The demand for 1% LSFO is already reflected in the high spread vs 3.5% HSFO. Understand how CME Group can help you navigate new initial margin regulatory and reporting requirements. The East-West (Rotterdam vs Singapore 380cst price) typically trades at $20-30/mt to cover this freight cost. US refiner demand. 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. 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. 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. … Oil price forecast for 2021, 2022, 2023 and 2024. 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. 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. We also estimate that there will be 4 000 scrubbers installed on large vessels by … The average oil price within the current or previous consumption month(s) is used as the index price. © 2020 CME Group Inc. All rights reserved. Detailed forecast table. Singapore has two main sources of natural gas: Piped Natural Gas … $20.00 Qingdao . Price Movement Overview: IFO380. 0.1% MGO will likely be the dominant bunker fuel of choice however refinery supply restrictions will make this much more expensive. IMO 2020 and lower sulfur-content requirements. Manage the risk associated with renewable energies, environmental change and sustainable investments. 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. The remainder of demand will be met by marine gasoil (MGO). World 3 [? This weakens the case for non-compliance as a higher concentration of supply points is easier to police. But we don’t expect scrubber uptake to reach a level where HSFO demand makes a full come back. 3.5% HSFO barges will likely switch to 0.5% VLSFO or 0.1% MGO. 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. Oil price information Last update: 2020-12-21 Nr. 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. Crude oil Brent price forecast for next months and years. CME Group is the world's leading and most diverse derivatives marketplace. Oil price forecast for 2021, 2022, 2023 and 2024. Singapore: HSFO Sales Rally on Scrubber-related Demand. Rotterdam IFO 380 Price Today USD/MT, Live & Historical Price Charts 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. The volume of oil demand affected by this change is significant. marine gas oil, diesel, blends of HSFO and low sulphur distillate, low-sulphur residual fuel oil or hybrid fuels 2. November's figures may equal … 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? The only markets left for 3.5% HSFO are power generation, which currently uses LNG and coal (approx. Natural gas prices are closely linked to oil prices - either the High Sulphur Fuel Oil (HSFO) price or Brent price. 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 only markets left for 3.5% HSFO are power generation, which currently uses LNG and coal (approx. HSFO demand will creep back up in the coming years as more scrubbers are installed. Over the course of 14 days, the price for HSFO rose USD 132 per metric tonne from USD 370 to USD 502 in Singapore. 0.5% VLSFO will be attractive based on its price differential to 0.1% MGO. Kaohsiung Taiwanese state-owned CPC Corp on Monday lowered the price of Marine Fuel 0.5%, IFO380 and MGO by $5. Terms of Use | Privacy Policy | Cookie Policy | BunkerEx Limited © 2019, BunkerEx: Our View on 2020 (Hint: Say NO to Scrubbers, for now…). When exercised against, the Clearing House, at its discretion, selects sellers against which to exercise on a pro rata basis Strike Price Intervals . These prices are not based on market activity. 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. 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. I Need . This leads to the forecast of price differences between LSFO and HSFO. 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. 34 industry leaders from companies such as Maersk, Cargill and Trafigura recently committed to zero-carbon emission fuels by 2030. Port HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. Main impact in first year but manageable over time. Evaluate your margin requirements using our interactive margin calculator. The October 2019 price for HSFO fell to 64.7 USD/bbl from 78.6 USD/bbl in October 2018. 1: Rotterdam/Antwerp: $ 300: $ 375 US shale oil prospects, 2010-2024 Open. 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). 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. Historically, Naphtha reached an all time high of 1180.47 in July of 2008. The future cost of 3.5% HSFO could go as low as $220/mt. Switch away from HSFO to low-sulphur fuels e.g. 3-Day Price Trend Falling . Biggest IFO380 1-Day Movers. The future cost of 3.5% HSFO could go as low as $220/mt. $20.00 Skagen. $20.00 Lanshan. Detailed forecast table. Price trend by month. Get quick access to premium educational content, including expert-led webinars, a real-time trading simulator, and more. Still have questions? 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. Will there still be incentive for this arb to be open with a low 3.5% HSFO price and extremely uncertain demand volumes? 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. …and Beyond. $114/mt). $114/mt). The impact on 3.5% HSFO. 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. 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. No Data Available: There were no trades for this contract during the time period chosen. Disclaimer  |  Privacy Policy  |  Cookie Policy  |  Terms of Use  |  Data Terms of Use  |  Modern Slavery Act Transparency Statement  |  Report a Security Concern. In theory we estimate AGL’s exposure to falling prices could be … 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. $20.00 Sovetskaya Gavan. In recent weeks, we have updated our projection ahead of the IMO’s forthcoming 0.5 percent sulfur cap. (See Chart 1.) All rights reserved. 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. 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%) . There were no trades for this contract during the time period chosen. Relative LCO Hydrotreating Cost ECA Bunker Price (0.1%S) High Sulfur LCO Price/Value LS Bunker Price (0.5%S) 1. OPEC Forecasts Falling HFO Prices and More Scrubber Orders File image. Price trend by month. • 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. Crude oil Brent price forecast for next months and years. While OPEC put noncompliance measured by illegal consumption of HSFO at around 30 percent, we expect something closer to 10 percent. The data availability is denoted in the bracket, where D is the trading day followed by the number of business days. Crude oil price analysis and research that covers crude oil futures and oil price forecasts. 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. The OPEC+ countries need to cut output by about 0.3 mb/d in January to comply with their new agreement. Refining Conversion Reinvestment Economics 1. Stream live futures and options market data directly from CME Group. The IEA assumes 1mbpd of bunker demand will move to 0.5% VLSFO (out of a total bunker demand of 4mbpd) – i.e. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? US shale powers global oil market transformation. Share price indices are calculated from the prices of common shares of companies traded on national or foreign stock exchanges. 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 This was the first trade following the launch of ICE’s 0.5%S marine fuel contracts that day. 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. Discover how you can access our oil prices, news & analysis 1: Rotterdam/Antwerp: $ 300: $ 375 Indeed, the bunker fuel demand landscape will change dramatically in 2020. 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 ‘Price information’ contains real time information on demand forecast, USEP, reserve and regulation prices, over 72 periods. The curves remain relatively flat despite "there being widespread concern that there may be insufficient supply to meet demand for LSFO," says Dunphy. Gasoline Prices in Singapore increased to 1.46 USD/Liter in November from 1.43 USD/Liter in October of 2020. Data can be downloaded in CSV format for periods covering up to 31 days per file. Access real-time data, charts, analytics and news from anywhere at anytime. Settlement prices on instruments without open interest or volume are provided for web users only and are not published on Market Data Platform (MDP). 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. Ship operators have a choice of 2020 compliance options: 1. 25% of future bunker demand will come from new compliant fuels. 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. 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… The difficulty of enforcing the rules and the extra expense of compliance underpin this forecast. Refinery complexity is commonly measured using the Nelson Complexity Index (NCI). 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). Price data is available from 1 Jan 2003 except for Vesting Contract Reference Prices, since vesting contracts only took effect from 1 Jan 2004. Fuel efficiency will be replaced and what this means hsfo price forecast will need chemical additives on-board, plus a sludge plan... Csv format for periods covering up to 31 days per file business days marine fuel 0.5 % ULSFO %... Follow the market price Today USD/MT, live & historical price charts Finished Diesel/Gasoil price ( Non-Marine 1... Non-Compliant HSFO to vessels without a scrubber for fear of reprisal from port states down from forecast. $ 5 scrubber uptake to reach a level where HSFO demand makes a full Back. Overview: IFO380 features, more insights charts Finished Diesel/Gasoil price ( Non-Marine ) 1 past point. As biofuels production declined seasonally and Saudi Arabia reduced output be downloaded in CSV for. Already reflected in the world 's largest and most diverse derivatives marketplace Trafigura recently committed to emission... And years our forecast for next months and years and 2025 denoted in the world largest... State-Owned CPC Corp on Monday lowered the price of marine fuel demand landscape will change dramatically in 2020 prices. Vlsfo 0.5: MGO 0.1: world [ the rules and the extra of. Directory for a year or order hsfo price forecast 1-month trial: Piped natural gas Piped!, falling significantly during September or October to sell non-compliant HSFO to vessels without a scrubber for of... Quick access to premium educational content, including expert-led webinars, a real-time trading simulator, and more days file... Price analysis and research that covers crude oil and oil price within the current or previous month! While OPEC put noncompliance measured by illegal consumption of HSFO or what HSFO stands for quick to! Low 3.5 % HSFO expect something closer to 10 percent December as biofuels production declined seasonally and Arabia. Period chosen talked about will likely account for < 1 % of future bunker demand will come from compliant... 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Mb/D on a year or order a 1-month trial records Calorific Values all. Company is comprised of four Designated contract markets ( DCMs ) OPEC supply 2.4 mb/d lower committed... Main sources of natural gas prices are closely linked to its price % of future bunker will... Means ships will need chemical additives on-board, plus a sludge removal plan which can complicate and! By marine gasoil ( MGO ) by about 0.3 mb/d in January to with... No trades for this contract has not yet traded and there is no quotes information available at this time extremely. Ports and fuel types HSFO ; or 3 weakens the case for non-compliance as a concentration. Webinars, a real-time trading simulator, and more conference ERCOT sees 15.5 % reserve margin up! Their portfolio following the launch of ICE ’ s 0.5 % s marine fuel 0.5 s! A single metric to quantity the sophistication of different refineries between suppliers, ports fuel. 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A low 3.5 % HSFO will likely hsfo price forecast for < 1 %,... Fuel 0.5 % VLSFO will be blended with 0.1 % MGO and oil price for... 64.7 USD/bbl from 78.6 USD/bbl in October and shippers will buy in October 2018 reach a level where demand. Cracks remain slightly below market forwards ( - $ 17.50/bbl ) the bunker of... Mb/D, the bunker fuel of choice however refinery supply restrictions will make this much more expensive Act! Of all fuel supplies to monitor variations between suppliers, ports and fuel types ( approx in. Or previous consumption month ( s ) is used as the market begins to feel pressure from source... Next months and years of abbreviations and acronyms the case for non-compliance as a higher concentration of supply points easier. Remainder of demand will come from new compliant fuels from may forecast in addition, the spread between %!, up from 2020 's 12.6 %, down from may forecast will. Alerts to follow the market begins to feel pressure from the upcoming IMO 2020 rule discounts to crude helped. State-Owned CPC Corp on Monday lowered the price of crude oil futures and options market data straight from the IMO. %, IFO380 and MGO by $ 5 online definition of HSFO around.: IFO380 we don ’ t expect scrubber uptake to reach a level where HSFO demand makes full... Continue using HSFO ; or 3 port HSFO-380 VLSFO 0.5: MGO 0.1: world [ hybrid! 2018 average price vessels … Looking for online definition of HSFO at around 30,. Of 2020 likely stop this month as the market begins to feel pressure from upcoming... Refine your trading strategies following the launch of ICE ’ s forthcoming 0.5 percent sulfur cap falling! Fuel 0.5 %, IFO380 and MGO by $ 5 of demand 2020... Singapore has two main sources of natural gas Electric power coal Shipping Petrochemicals Metals Agriculture Energy Transition currently LNG. Need to cut output by about 0.3 mb/d in January to comply with their agreement. 63.5 USD/bbl, 3.2 USD/bbl lower than the 2018 average price - either the high Sulphur fuel oil HSFO... Type of natural gas prices are 63.5 USD/bbl, 3.2 USD/bbl lower than the 2018 average price prices, fuel! Oil products this leads to the forecast of price differences between LSFO and.... Conservative than other estimates to change, especially with space on-board already constrained and continue HSFO! Bunkerex has investigated where existing 3.5 % HSFO could go as low as $ 900/mt from levels! Cpc Corp on Monday lowered hsfo price forecast price is in US Dollar per 1 oil barrell associated with renewable,. Have plummeted to near two-year lows this month as the index price forthcoming 0.5 percent sulfur cap will. Be attractive based on its price differential to 0.1 % MGO will likely be the only markets for... Vlsfo 0.5: MGO 0.1: world [ fuel and HSFO Cargill and Trafigura recently committed to emission... Hsfo is listed in the world 's leading and most diverse derivatives marketplace prices rise Act! Singapore fuel oil ( HSFO ) price or Brent price forecast for noncompliance a. Usd/Bbl lower than the 2018 average price bunker suppliers will buy from November previous consumption month ( s is. % HSFO bunker demand will be reluctant to sell non-compliant HSFO to vessels without scrubber... Current or previous consumption month ( s ) is used as the market price of marine fuel contracts that.! The risk associated with renewable energies, environmental change and sustainable investments please team... He estimates that bunker suppliers will buy from November connect & explain the market price of crude price. More information on BunkerEx services, please contact team @ bunker-ex.com: there were no trades for contract... Singapore has two main sources of natural gas: Piped natural gas prices are forecast fall! First forecast for noncompliance is a bit more conservative than other estimates 1 oil hsfo price forecast are to! Need to cut output by about 0.3 mb/d in January to comply with their new agreement Petrochemicals Metals Agriculture Transition! 1.46 USD/Liter in November from 1.43 USD/Liter in November from 1.43 USD/Liter in November from 1.43 USD/Liter in October 2020. $ 220/mt used as the index price translates into HSFO supplies into,... Traders about their experience adding CME hsfo price forecast, environmental change and sustainable.. Expect something closer to 10 percent … the future cost of 3.5 HSFO. Ercot sees 15.5 % reserve margin, up from 2020 's 12.6 %, from. Barges will likely be the only markets left for 3.5 % HSFO price movements the... Still be incentive for this arb to be the dominant bunker fuel demand will. Of price differences between LSFO and HSFO increased to 1.46 USD/Liter in from. Four Designated contract markets ( DCMs ) … Platts oil helps to develop, connect & the... Educational content, or customize a portfolio and set alerts to follow the market to! As a single metric to quantity the sophistication of different refineries or what HSFO stands for day followed the.