Evgenia Vanadzina Gasum

Evgenia Vanadzina

Analyst
evgenia.vanadzina@gasum.com
tel. +358401801066

21.09.2020  

Maritime market update: oil products prices on the rise

Risavika LNG front month has gained 4.1 % week on week to 21.38 EUR/MWh for October, following the seasonal trend in the European gas markets.

Fuel oil 3.5 has increased by 8 % to 238.16 USD/t, and low sulfur oil products (MFO 0.5 and MGO 0.1) have increased by 6.2-5.1 % accordingly week on week due to increase in crude front prices. Oil market has closed on a bullish note last week on a back of OPEC+ compliance pressure and a draw from the inventories, both in the US and Europe.

Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp (ARA) hub, as measured by Insights Global, declined 5% to 1.171 million tons in the week to Sept. 16. Meanwhile, gasoil inventories in ARA rose 1.6% to 2.9 million tons, which were up 7.4% compared to last year.

 

LNG Risavika - LNG FOB Risavika 

LBG Risavika 10 % - 10 % blend of Liquified Biogas

FO 3.5 FOB Rdam – European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures Quotes

MFO 0.5 FOB Rdam - European FOB Rdam Marine Fuel 0.5% Barges (Platts) Futures Quotes

MGO 0.1 FOB ARA - Gasoil 0.1% Barges FOB ARA (Platts) Futures Quotes

ULSD FOB ARA - European Diesel 10 ppm Barges FOB ARA (Platts) Futures Quotes

 

Front Month Price index

LNG Risavika*

LBG blend

Risavika**

FO 3.5 FOB Rdam

MFO 0.5 FOB Rdam

MGO 0.1 FOB ARA

ULSD FOB ARA

Unit

21.38

24.38

17.07

20.28

22.73

23.24

EUR/MWh

362.19

413.01

238.16

295.35

331.02

324.17

USD/t

 Price index 21.9.2020.png

Source: CME Group, Gasum, Reuters, S&P Global Platts

*An estimate for LNG FOB Risavika 

** An estimate for 10 % LBG blend FOB Risavika