The following article regarding regional bunker fuel availability outlook for the East of Suez region has been provided by online marine fuels procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

• Availability is good for all grades in Zhoushan
• Several South Korean ports brace for weather disruptions
• Availability is good in Sri Lankan ports

Singapore and Malaysia

VLSFO availability remains tight in Singapore, with standard lead times of about 10 days, similar to last week. Expedited deliveries within five days are available but at higher prices. HSFO lead times remain steady at 5-9 days, while LSMGO lead times have been revised to 3-9 days from 3-11 days last week.

According to Enterprise Singapore, residual fuel oil stocks in Singapore have averaged 6% lower so far this month compared to December. Fuel oil stocks have decreased to just over 21 million bbls, driven by a sharp 31% drop in the port's net fuel oil imports this month. Imports have fallen significantly by 1.10 million bbls, while exports have risen by 542,000 bbls. Middle distillate stocks in the port have also declined, averaging 15% lower this month.

At Malaysia's Port Klang, VLSFO and LSMGO supplies are abundant, with prompt small-quantity deliveries readily available. However, HSFO supply remains constrained.

East Asia

Lead times in Zhoushan remain steady for VLSFO at 3-5 days, similar to last week. LSMGO lead times have improved from six days last week to 3-5 days now, while HSFO requires 4-7 days.

Bunkering operations at Zhoushan's Tiaozhoumen and Xiazhimen outer anchorages have resumed from Monday, after being suspended for six days due to bad weather, according to a source. All anchorages in Zhoushan are now fully operational.

In Northern China, Dalian and Qingdao ports have ample VLSFO and LSMGO supplies, though Qingdao faces limited HSFO availability. HSFO and VLSFO supplies are tight in Tianjin, while LSMGO supply remains steady.

In Shanghai, LSMGO is readily available, but VLSFO and HSFO supplies are constrained. Fuzhou has strong supplies of both VLSFO and LSMGO grades, while Xiamen has good VLSFO availability but restricted LSMGO supply. Prompt deliveries of both grades remain limited at Yangpu and Guangzhou.

In Hong Kong, lead times for all fuel grades are around seven days, consistent with recent weeks. The port is forecast to experience bad weather conditions on Wednesday, which could disrupt bunker deliveries.

In Taiwan, Hualien and Taichung ports have stable VLSFO and LSMGO supplies with lead times of around two days, unchanged from last week. In Keelung, lead times of 2-3 days are recommended. At Kaohsiung, VLSFO lead times are approximately two days, but LSMGO deliveries remain challenging due to ongoing barge maintenance since late December.

Availability of all grades remains strong across South Korean ports despite high demand, with several suppliers recommending lead times of around three days, down from 4-6 days last week. However, intermittent rough weather expected this week may disrupt bunkering operations at Ulsan, Onsan, Busan, Daesan, Taean and Yeosu.

In Japan, VLSFO is readily available in major ports such as Tokyo, Chiba, Yokohama, Kawasaki, Osaka, Kobe, Sakai, Nagoya and Yokkaichi, though prompt availability is limited in Mizushima. LSMGO supply is generally stable, but securing prompt deliveries can be difficult in Tokyo, Chiba, Yokohama, Kawasaki, Osaka, Kobe, Sakai, Nagoya, Yokkaichi, and Mizushima. HSFO supply is tight in all ports, and in Oita, all fuel grades are subject to availability.

In Vietnam, Hai Phong and Vung Tau ports have robust VLSFO and LSMGO supplies, with prompt deliveries readily available.

Subic Bay in the Philippines may experience inclement weather from 15-16 January, potentially disrupting bunkering operations. Similarly, adverse weather conditions could impact bunkering in Thailand's Koh Sichang and Laem Chabang ports between 16 and 18 January.

Oceania

In Western Australia, the ports of Kwinana, Fremantle and Kembla have ample VLSFO and LSMGO supplies, with typical lead times of 7-8 days. In New South Wales, Sydney has sufficient LSMGO availability, while HSFO may require longer lead times.

Victoria’s ports, Melbourne and Geelong, have abundant stocks of VLSFO and LSMGO, but securing prompt HSFO deliveries can be difficult. In Queensland, Brisbane and Gladstone maintain adequate VLSFO and LSMGO supplies with lead times of 7-8 days, although HSFO availability in Brisbane remains limited.

In New Zealand, Tauranga and Auckland have enough VLSFO stocks. Auckland also has ample LSMGO supplies. However, rough weather is expected in Tauranga on 20 January, which could disrupt bunker operations.

South Asia

VLSFO and LSMGO availability remains limited at several Indian ports, including Kandla, Mumbai, Tuticorin, Chennai and Cochin, consistent with recent weeks. Both grades are subject to availability in Visakhapatnam, while a supplier in Paradip and Haldia is nearly out of stock.

Adverse weather in Kandla and Sikka ports may disrupt bunker operations on Thursday.

In Sri Lanka, lead times of around seven days are recommended for all grades at Colombo port, almost unchanged from last week. Bad weather is forecast for Saturday, which could impact deliveries.

In contrast, Hambantota's lead times for all grades have decreased from around six days last week, to just two days now.

Middle East

In Fujairah, prompt availability remains tight, with lead times for all grades steady at 5-7 days, unchanged from last week. Similarly, suppliers in Khor Fakkan are recommending lead times of 5-7 days for all grades.

In contrast, Jeddah port in Saudi Arabia has adequate supplies of both VLSFO and LSMGO. VLSFO supply remains under pressure in Djibouti, while LSMGO is more readily available.

Omani ports, including Sohar, Salalah, Muscat and Duqm, have ample LSMGO supplies with prompt deliveries available.

By Tuhin Roy

Photo credit and source: ENGINE
Published: 15 January, 2025 

Uni-Fuels Holdings (Uni-Fuels), the ultimate parent of Singapore-based marine fuels trading and brokerage firm Uni-Fuels Pte Ltd, on Tuesday (14 January) announced the pricing of its underwritten initial public offering of 2,100,000 Class A Ordinary Shares at a public offering price of USD 4.00 per share, for total gross proceeds of USD 8.4 million to the company, before underwriting discounts and commissions. 

All of the Class A Ordinary Shares are being offered by Uni-Fuels. The Class A Ordinary Shares began trading on the Nasdaq Capital Market under the ticker symbol “UFG” on 14 January. The Offering is expected to close on 15 January subject to satisfaction of customary closing conditions.

Uni-Fuels has granted the Underwriters an option to purchase up to 315,000 additional Class A Ordinary Shares within 45 days of the effective date of the company’s registration statement in relation to the IPO.

The total proceeds from the offering are expected to be approximately USD 9.66 million, if the Underwriters exercise their option to purchase the additional Class A Ordinary Shares in full.

Uni-Fuels intends to use the proceeds from the IPO for scaling up its reselling activities to gain market share from existing and new markets; for strengthening its workforce and expanding its market presence in new geographical locations; and cash reserve and general corporate purposes.

A registration statement on Form F-1 relating to the shares being sold in IPO was initially filed with the U.S. Securities and Exchange Commission (SEC) on 28 October 2024; and was declared effective by the SEC on 10 January 2025.

Manifold Times previously reported Uni-Fuels announcing its plans for an IPO on Nasdaq Capital Market.

Related: Marine fuels trading, broking firm Uni-Fuels Holdings files for IPO on Nasdaq

Photo credit: Uni-Fuels Holdings
Published: 15 January, 2025

Zhoushan Hi-Tech Zone Administrative Committee on Friday (10 January) said Zhoushan, the fourth largest bunkering port of the world, delivered 7.26 million metric tonnes (mt) of marine fuel in 2024.

This marked about a 3% increase from 7.04 million mt in 2023. 

The committee also highlighted the progress Zhoushan Port has made in the past year including actively planning to build an alternative fuel bunkering centre.

It has successfully obtained approval for the national biodiesel promotion and application pilot project. The construction of a project to produce an annual 1 million mt of marine biodiesel has begun.

The first methanol vehicle-to-ship pilot was carried out, and the first methanol bunkering barge in Zhoushan was officially built and is expected to be put into use by the end of 2025.

The port has also improved the fuel supply efficiency of various bunkering anchorages in Zhoushan including Tiaozhumen Anchorage adding three bunkering anchorages on top of the original five and has successfully carried out night bunkering operations. 

Xiushandong and Mazhi anchorages have added a total of three new bonded bunkering anchorages, which can implement all-weather and fully automatic anchorage reservations, and provide advance reservations and priority refueling services for large ships and large orders.

The committee also highlighted Dong Fang Zhao Yang becoming the first domestic bunkering barge to obtain the mass flow meter system certification under the ISO22192:2021 standard. The barge conducted a successful pilot for the bunkering of bonded fuel oil using a mass flow meter at Xiushandong Anchorage on 9 December. 

A spokesperson of the committee said Zhoushan will focus on promoting alternative bunker fuels such as biofuel and LNG and accelerating the completion of methanol refuelling safety assessments.

Related: IPEC 2024: Zhoushan port records 7.04 million mt annual bunker volume for 2023
Related: China: Zhoushan Port launches night bunkering ops in Tiaozhoumen outer anchorage
Related: China: Zhoushan shortlisted for national pilot project to promote biodiesel bunker fuel
Related: China: Zhoushan completes pilot bonded bunkering op with mass flow meter

Photo credit: Zhoushan Hi-Tech Zone Administrative Committee
Published: 14 January, 2025