Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

VLSFO availability tight in Singapore; availability good across all grades in Zhoushan; demand good in Fujairah.

Published

3 years ago

August 23, 2023

Admin

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:

22 August 2023

VLSFO availability tight in Singapore
Availability good across all grades in Zhoushan
Demand good in Fujairah

Singapore

A source says that Singapore has been witnessing average demand so far this week. VLSFO availability has been getting tighter in the port, with lead times doubling from 3-5 days last week to 7-11 days now.

Lead times for HSFO, on the other hand, have come down from 9-11 days last week to 6-8 days now. LSMGO remains readily available, with unchanged lead times of 2-3 days.

Singapore’s residual fuel oil stocks have averaged 9% higher so far in August than in July, according to Enterprise Singapore. The Southeast Asian bunker hub’s net fuel oil imports have fallen by 9% so far this month. Both fuel oil imports and exports have also declined this month.

The port’s middle distillate stocks, on the other hand, have slumped 6% on the month.

East Asia and Oceania

In Zhoushan, all grades remain in ample supply amid muted demand, a source says. Several suppliers are recommending lead times of 3-5 days across all bunker fuel grades in the Chinese bunkering hub – virtually unchanged from last week.

Availability also remains good across all grades in Hong Kong, with most suppliers advising unchanged lead times of around seven days.

Meanwhile, some suppliers are now offering all grades at lead times of 5-9 days in South Korean ports – slightly up from 5-7 days last week.

Bad weather conditions are forecast in the South Korean ports of Ulsan and Onsan between 24-25 August, in Busan and Yeosu between 24-27 August, and in Daesan and Taean on 27 August, which could disrupt bunker operations at these ports.

Adverse weather conditions are also predicted in the Vietnamese port of Ho Chi Minh between 28-29 August, which might impact bunkering.

South Asia

Several Indian ports, including Kandla on the northwest coast, and Cochin and Chennai on the southern coast, have good availability of VLSFO and LSMGO, with short lead times of around 2-3 days.

On the other hand, the supply of both grades remains subject to availability in the Indian ports of Mumbai and Visakhapatnam as it has been in the past few weeks. Meanwhile, both grades remain subject to enquiry in Tuticorin port on the southeast coast and Haldia on the east coast, a source says.

Rough weather is forecast to hit the Indian ports of Kandla and Sikka between 22-29 August, and Mumbai on 24 August, which may affect bunker deliveries.

Middle East

Prompt availability of all grades remains tight in Fujairah as it has been in recent weeks. A source says that good demand has been keeping prompt availability under pressure in the Middle Eastern bunkering hub. Several suppliers are advising lead times of 5-7 days in Fujairah – virtually unchanged from last week.

Meanwhile, the other UAE port of Khor Fakkan has an ample supply of all grades, with unchanged lead times of 5-7 days.

By Tuhin Roy

Photo credit and source: ENGINE
Published: 23 August, 2023

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