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Residual Fuel Oil Service


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Overview

FGE’s Residual Fuel Oil Service is a fortnightly report featuring key insights and market analysis on the global residual fuel oil market.

The IMO 2020 fuel oil regulation has seen a segmentation of the marine fuels market. The price of Very Low Sulphur Fuel Oil (VLSFO) and High Sulphur Fuel Oil (HSFO) continue to be shaped by various market forces.

As part of our new Residual Fuel Oil Service, FGE takes a deep dive into the supply/demand fundamentals of VLSFO and HSFO on a region-by-region basis to provide a holistic picture of the global residual fuel oil market.

FGE combines insights from conversations with key stakeholders and detailed market analysis to provide a fortnightly report on the global residual fuel oil market. To do this, we leverage our extensive expertise in refining and oil markets, as well as longstanding client relationships across the refining, trading, power generation and shipping sectors.

Scope of Coverage

  • Coverage - Supply
    • Refinery Investment: Refinery additions/closures traced in detail; focusing on current and new technologies aimed at increasing low sulphur bunker fuel availability.
    • Inventories: Provides analysis on residual fuel oil inventories across the major hubs of Fujairah, Singapore, South Korea, ARA and the US. Take a closer look at offshore inventories in the biggest hub of Singapore.
    • Fuel Availability: Provides supply analysis of VLSFO and HSFO across various countries, identifying the shorts and lengths in each region by marine fuel type.
    • Other Competing Fuels: Looks at the viability and adoption of other competing sources of fuels, such as LNG and marine gasoil in bunkering, and alternative fuels that may displace residual fuel oil in the power generation sector.
  • Coverage - Demand
    • Bunker Statistics: Provides analysis on bunker sale volumes in the key hubs of Fujairah, Singapore, ARA and the US, categorized by marine fuel type.
    • Technological Advances: Analyses the impact of other competing sources of residual fuel oil demand, such as the power generation sector, and how this will impact pricing. 
  • Coverage - Price
    • VLSFO and HSFO Price Coverage: Leveraging 30 years of experience forecasting oil prices gives us a unique edge in understanding the fundamental implications of supply and demand and their impact on the various bunker fuels.
    • VLSFO and HSFO Arbitrage Prices: Analyses the arbitrage of VLSFO and HSFO prices between the key hubs and Singapore, taking into account the volatile freight costs between regions.

This Service Will Add Value To

Ship Owners and Charterers

  • Evaluating the economics of the variety of potential fleet investments.
  • Assess forward fuel price exposure to help shape procurement and risk management strategies.
  • Provides bunker sale statistics in key regional hubs by marine fuel type.

Refiners

  • Evaluate FCC unit economics and low sulphur crude straight run margins to provide an analytical view on refinery optimization strategies.
  • Keep abreast of innovative and new refining investments pertaining to the supply of VLSFO and HSFO in a capital-constrained sector.
  • Informs bunker fuel marketing strategies for refiners.

Commodity Trading Houses

  • Provides supply/demand fundamentals of VLSFO and HSFO on a region-by-region basis.
  • Identify opportunities for value creation in terms of supplying VLSFO and HSFO and taking advantage of potential regional arbitrage.

Fuel Storage Companies

  • Keeping fuel storage companies abreast of developments at particular ports as well as changing dynamics on certain routes.
  • Provide up-to-date information on inter-regional fuel oil flows.

Port Authorities

  • Identity infrastructure constraints for ports, as well as competing bunker hubs and incentives.

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