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hsfo price forecast

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

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