上海国际海事信息与文献网

翻译：国际海事信息网 王雅媛 张运鸿

 

       交易商和分析师表示，因减产令导致供应紧张，且多数港口的航用燃料油需求回到疫情前的水平，亚洲炼油厂通过生产低硫燃油（very low sulphur fuel oil，VLSFO）产生的利润在本周攀升至6个月高位。

 

       这一趋势在今年余下的时间里有望持续下去，这将鼓励亚洲炼油厂优先考虑生产VLSFO，以及需求同样稳定的石化原料石脑油。

 

       周二，近月VLSFO价格较迪拜原油每桶高9.43美元，为4月10日以来最高。根据Refinitiv Eikon的数据，今年残余燃料油的平均利润率也在所有成品油中最高。

 

       Starfuels公司驻迪拜的石油经纪人Matt Stanley表示：“0.5% VLSFO无疑是今年油价上涨幅度最大的成品油。”

 

       在疫情盛行期间，汽油、轻油和航空燃料等精炼燃料受到了流动性限制的打击。而船运和发电方面的残余燃料不同，其需求相对较强。

 

       费氏全球能源咨询公司（FGE）亚洲石油主管Sri Paravaikkarasu表示：“全球港口的燃油需求正强劲回升。”

 

       她补充称，巴西对于VLSFO的套汇成交量下降，将收紧新加坡市场的供应，为价格提供进一步支撑。

 

       Sri Paravaikkarasu说：“11月至12月，高硫燃料油（high-sulphur fuel oil ，HSFO）和VLSFO市场将继续吃紧。”

 

       “亚洲各地的燃料油需求已反弹至高于疫情之前的水平，富吉拉（Fujairah）除外。”一位新加坡燃料油交易商表示。他还称，富吉拉的需求下降，是因为中东产油国减少了出口导致了油轮运输量下降。

 

      今年前9个月，全球最大的燃料供应中心新加坡的船用燃料总销量增长了6%。 

 

（本文版权归国际海事信息网所有，图片版权归原作者，转载请注明出处。）

 

Fuel oil outshines other refined products in Asia on tight supply, demand recovery

 

Asian refiners’ profit from producing very low sulphur fuel oil (VLSFO) climbed to six-month highs this week as output cuts keep supplies tight while demand for the shipping fuel at most ports are back at pre-pandemic levels, traders and analysts said.

 

The trend is likely to stay for the rest of the year, encouraging Asian refiners to prioritise VLSFO production along with petrochemical feedstock naphtha, where demand has also firmed.

 

The front-month VLSFO crack was at $9.43 per barrel above Dubai crude on Tuesday, its highest since April 10. The residual fuel also posted the highest average margin among refined products so far this year, according to data on Refinitiv Eikon.

 

“0.5% (VLSFO) has no doubt been the strongest part of the barrel this year,” said Matt Stanley, Dubai-based oil broker at Starfuels.

 

Unlike other refined fuels such as gasoline, gasoil and jet fuel, which have been hammered by mobility restrictions imposed during the pandemic, residue fuel demand in shipping and power generation has been relatively resilient.

 

“Global ports are seeing a strong pick-up in bunker (fuel) demand,” said Sri Paravaikkarasu, director for Asia oil at FGE.

 

She added lower VLSFO arbitrage volumes from Brazil would tighten supplies in the Singapore hub, offering further price support.

 

“Both the high-sulphur fuel oil (HSFO) and VLSFO markets will continue to remain tight over November and December,” she said.

 

“Bunker demand in Asia has rebounded to above pre-COVID levels everywhere except in Fujairah,” said a Singapore-based fuel oil trader. Fujairah’s demand declined due to lower tanker traffic as Middle East producers cut exports, he said.

 

The world’s largest bunkering hub Singapore posted a 6% rise in total marine fuel sales in the first nine months this year.