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ENGINE: East of Suez Bunker Fuel Availability Outlook

07 Jul 2021

The following article regarding regional bunker fuel availability outlooks for East of Suez ports with special attention to availability in Singapore has been provided by online marine fuels procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

6 July

Availability of VLSFO and LSMGO is tighter in Singapore, while Fujairah has more readily available supplies of the two grades this week.

Singapore’s fuel oil stocks rose by 2% in the week to 30 June, when they stood at 23.95 million bbls, Enterprise Singapore data showed last Thursday.

The stock build had support from higher net imports. Singapore’s fuel oil imports rose to a three-week high last week, while exports dropped to their lowest in three weeks.

The port’s lead times for VLSFO and LSMGO stems are one day longer this week, with 8-9 days recommended for VLSFO and 5-6 days for LSMGO. Lead times for HSFO380 are unchanged at 10 days ahead, as they have been for several weeks.

All three bunker fuel grades continue to be in good availability in Fujairah, where lead times are the same as last week. VLSFO and LSMGO stems still require 3-4 days each, which are among the shortest across East of Suez ports. More days are usually recommended for HSFO380 stems to ensure timely delivery.

The UAE bunker hub’s heavy distillate and fuel oil inventories fell by another 8% last week, to stand at 11.86 million bbls – their lowest levels in 11 weeks, data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global Platts showed last Wednesday.

The Chinese ports of Zhoushan and Shanghai are also well supplied with bunkers, with lead times similar to Fujairah’s. All three fuel grades can be delivered promptly in the two ports with 2-3 days of notice.

The ports of Fangcheng and Qinzhou in southern China have been out of VLSFO and LSMGO since last week. Replenishment is expected on 14 July when a new cargo is scheduled to arrive.

South Korea’s southern ports continue to require 3-5 days of lead time for VLSFO stems. Similarly, Tokyo’s fuel availability has been good the past month, without any significant supply disruptions.

 

Photo credit: ENGINE
Published: 7 July, 2021

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