Rotterdam-Singapore VLSFO spread at $189/mt; Fujairah HSFO jumps $48.18 while Brazil MGO falls over $120

Rotterdam VLSFO sits at $690/mt against Singapore at $879/mt, a spread of $189/mt. On a 1,200 tonne stem that is $226,800 of headline difference. Against that, one day of deviation at $15,000 hire plus the fuel burned getting there takes a bite out of it — the arithmetic has to be run per case, but the spread is not free money. Rotterdam HSFO is $609.5/mt, the lowest HSFO on the board alongside Houston at $552.5/mt and Santos at $511/mt.

The biggest moves today are on the downside in the Americas: Niteroi MGO down $136.25 to $1,602.5/mt, Panama (Balboa) MGO down $142 to $1,476/mt, New Orleans MGO down $145 to $1,453/mt, and Los Angeles VLSFO down $105.5 to $973/mt. On the upside, Fujairah HSFO added $48.18 to $621/mt, Singapore HSFO rose $28.5 to $740/mt, and Colombo VLSFO jumped $135 to $1,005/mt.

Crude is at $104.38/bbl Brent and $92.44/bbl WTI, with EU carbon at €86.78/tonne. The market is watching China's share of global crude trade, Indian product export commitments, and freight rate expectations for early October. Note two outliers that look like data issues rather than markets: Zhoushan HSFO at $6,295/mt and Shanghai HSFO at $6,993/mt, both far above every other HSFO quote on the board.