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Bunker Fuel Availability

ENGINE: East of Suez Bunker Fuel Availability Outlook (29 Oct 2024)

Bunker demand is good in Singapore; several Taiwanese ports brace for Typhoon Kong-Rey impact; prompt availability is tight in Fujairah.

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RESIZED ENGINE East of Suez

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:

  • Bunker demand is good in Singapore
  • Several Taiwanese ports brace for Typhoon Kong-rey impact
  • Prompt availability is tight in Fujairah

Singapore and Malaysia

Bunker demand has risen in Singapore this week, according to a source. VLSFO availability remains tight, with recommended lead times of around 11 days. Some suppliers can fulfil orders with shorter lead times of around five days, though these typically come at a higher cost.

HSFO supply is also limited, requiring lead times of 7–14 days, similar to last week. By contrast, LSMGO is more available, with steady lead times of 5–8 days.

Data from Enterprise Singapore shows Singapore's residual fuel oil stocks have averaged 7% higher this month compared to September. Fuel oil imports have surged by 48%, adding 2.33 million bbls, while exports have risen by 991,000 bbls, leading to a stock buildup. Middle distillate stocks in the port have dropped by 10% this month, reaching 9.60 million bbls—the lowest since June.

At Malaysia's Port Klang, VLSFO and LSMGO supplies are ample, with some suppliers offering prompt delivery for smaller volumes, though HSFO availability remains tight.

East Asia

VLSFO and LSMGO availability in Zhoushan has improved, with suppliers now suggesting lead times of 5–7 days, down from 7–10 days last week. HSFO supply, however, remains limited, with several suppliers reporting low stocks and maintaining lead times at 7–10 days.

In Northern China, ports such as Dalian and Qingdao have ample VLSFO and LSMGO supplies, though HSFO is limited in Qingdao. Tianjin faces tight supplies of HSFO and LSMGO but has solid VLSFO availability. In Shanghai, LSMGO is readily available, but VLSFO and HSFO are scarce. Fuzhou has strong stocks of both VLSFO and LSMGO, while Xiamen faces LSMGO restrictions though VLSFO is well-stocked. Prompt availability of both grades remains limited in Yangpu and Guangzhou.

In Hong Kong, recommended lead times remain stable at seven days for all bunker grades. However, adverse weather conditions are forecasted for 1-2 November, which may disrupt bunker deliveries at the port.

In Taiwan’s ports of Hualien, Kaohsiung, Taichung, and Keelung, VLSFO and LSMGO remain readily available, with recommended lead times of 2–3 days, consistent with last week.

Bunker operations at several Taiwanese ports may experience disruptions from Thursday through Saturday due to Typhoon Kong-Rey, according to a source.

In South Korean ports, lead times for all fuel grades vary widely between 3-14 days now. Last week, lead times in the southern ports were 3–9 days for VLSFO and LSMGO, and around five days for HSFO. In the western ports, VLSFO and LSMGO require 5–7 days, while HSFO remains limited.

High winds and waves are expected to intermittently disrupt bunker operations at Ulsan, Onsan, Busan, and Yeosu ports from Tuesday through Sunday, with further interruptions likely at Daesan and Taean on Tuesday and Saturday.

VLSFO supply is generally stable across Japanese ports, though prompt deliveries are limited in Oita. HSFO remains tight at most ports, while LSMGO is readily available at major locations, including Tokyo, Chiba, Yokohama, Kawasaki, Osaka, Kobe, Sakai, Nagoya, Yokkaichi, Mizushima, and Oita.

Adverse weather is expected over the weekend at Thailand's ports of Koh Sichang and Laem Chabang, which could impact bunkering operations.

Oceania

A bunker barge serving Fremantle and Kwinana ports is in dry dock from early September until the third week of November, resulting in VLSFO being unavailable by barge during this period, although LSMGO will still be available at berth. The port of Kembla in Western Australia is unaffected, as bunker deliveries are conducted by truck and ex-pipe.

In New South Wales, Sydney has sufficient LSMGO, but HSFO may require longer lead times. Melbourne and Geelong in Victoria have ample supplies of VLSFO and LSMGO, although securing prompt HSFO deliveries may prove challenging.

In Queensland, Brisbane and Gladstone report adequate VLSFO and LSMGO with lead times of 7–8 days, but HSFO availability in Brisbane is limited.

In New Zealand, Tauranga and Auckland have good supplies of VLSFO, and Auckland is also well-stocked with LSMGO.

South Asia

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

Sri Lankan ports, such as Colombo and Hambantota, have prompt availability of VLSFO, with LSMGO and HSFO requiring short lead times of around two days, similar to last week.

Middle East

Prompt availability across all grades in Fujairah remains tight, with lead times of about 5–7 days, although some suppliers can still accommodate prompt stems. Khor Fakkan faces similar constraints, recommending lead times of 5–7 days for all grades.

Bunker supply operations at Dubai anchorage have faced disruptions this week due to rough sea conditions affecting deliveries of some suppliers since Monday, according to sources.

In Iraq's Basrah, VLSFO and LSMGO are readily available, while both grades are nearly depleted in Qatar's Ras Laffan. Jeddah has a good supply of LSMGO, but VLSFO is limited. Djibouti is experiencing tight supplies of both VLSFO and LSMGO.

Omani ports, including Sohar, Salalah, Muscat, and Duqm, have ample LSMGO for prompt supply.

By Tuhin Roy

 

Photo credit and source: ENGINE
Published: 30 October, 2024

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Analysis

JLC China Bunker Fuel Market Monthly Report (October 2024)

China’s bonded bunker fuel sales plunged in October, due to lingering tightness of LSFO supply and the bad weather at certain ports.

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Bonded bunker fuel sales in Zhoushan JLC Nov 2024

Beijing-based commodity market information provider JLC Network Technology Co. recently shared its JLC China Bunker monthly report for October 2024 with Manifold Times through an exclusive arrangement:

China’s bonded bunker fuel sales plunge in October

China’s bonded bunker fuel sales plunged in October, due to lingering tightness of LSFO supply and the bad weather at certain ports.

The country sold about 1.45 million mt of bonded bunker fuel in the month, which was the lowest level since February 2022, JLC’s data shows. The daily sales settled at 46,881 mt in October, tumbling by 15.28% month on month.

Bonded bunker fuel sales by Chimbusco, Sinopec (Zhoushan), SinoBunker and China Changjiang Bunker (Sinopec) stood at 410,000 mt, 530,000 mt, 40,000 mt and 25,000 mt in the month, while those by suppliers with regional bunkering licenses settled at 448,300 mt, the data indicates.

China’s bonded bunker exports surge in September, but sales decline

China’s bonded bunker fuel exports surged in September, because of brisker re-export trade, but its actual sales declined amid tighter domestic supply.

The country exported about 2.18 million mt of bonded bunker fuel in the month, with the daily exports at 72,790 mt, up by 45.60% month on month and 37.82% year on year, JLC estimated, with reference to data from the General Administration of Customs of PRC (GACC).

Specifically, heavy bunker fuel exports totalled 1.90 million mt, accounting for 87.19% of the country’s total, while light bunker fuel exports increased to 279,800 mt, accounting for 12.81%.

Though bonded bunker fuel exports jumped amid more re-export trade activities, the actual sales descended as domestic refiners cut their LSFO production and port operation in East China was dampened by typhoons.

Chinese refiners produced about 993,000 mt of LSFO in the month, with the daily output at 33,100 mt, a slump of 11.16% from August and 15.13% from a year earlier, JLC’s data shows.

China issued this year’s third batch of quotas on LSFO exports in September, which was also expected to be the last batch for 2024, permitting only 1.0 million mt of exports, bringing this year’s total quotas to 13 million mt, down from 13.17 million for 2023 (the country issued quotas on 14 million mt for 2023, but some quotas were later converted to clean oil products).

China’s bonded bunker fuel exports totalled 15.09 million mt in the first nine months of this year, with the daily exports at 55,078 mt, sliding by 1.36% from the same period of time in 2023. Heavy bunker fuel exports came in at 14.08 million mt in January-September, accounting for 93.28%, while light bunker fuel exports stood at 1.01 million mt, making up 6.72%.

China bunker exports by region, 2023 2024 JLC Nov 2024

China major blending producers' bunker supply, Oct 2024 JLC Nov 2024

Domestic-trade heavy bunker fuel demand shrinks in October

Domestic-trade heavy bunker fuel demand shrank in October, because of multiple factors.

Domestic-trade heavy bunker fuel demand settled at 360,000 mt in the month, a decline of 30,000 mt or 7.69% month on month, JLC’s data shows. Most shipowners reduced purchases in early October, as they preferred to consume stockpiles during the National Day holiday. Operating ships decreased in mid-to-late October amid strong typhoons in southern China, and some ports’ bunkering business was hindered by the bad weather.

Domestic-trade light bunker fuel demand came in at 130,000 mt in the month, a loss of 10,000 mt or 7.14% from the previous month. Trade in the light bunker fuel market was limited, with shipowners still hesitant to make deals.

Bunker Fuel Supply

China’s bonded bunker fuel imports hit 22-month high in September

China’s bonded bunker fuel imports jumped significantly and set a 22-month high in September 2024, as domestic LSFO supply declined amid tight quotas.

The country imported 566,700 mt of bonded bunker fuel in the month, skyrocketing by 60.63% from the previous month and 45.38% from a year earlier, JLC estimated, with reference to data from the GACC. The imports hit the highest level since November 2022.

Bonded distributors imported more LSFO to meet demand when domestic refiners slashed their production amid lingering quota tightness. However, these distributors cut their high-sulphur fuel oil imports as their inventories remained relatively high. The imports of MGO were basically stable in September.

Malaysia still topped all suppliers by exporting 202,500 mt of bonded bunker fuel to China, which accounted for 35.73% of China’s total imports. Brazil came in second with 138,300 mt, accounting for 24.40%, followed by Singapore with 99,800 mt, making up 17.61%. Iraq and South Korea slipped to the fourth and fifth place with 85,200 mt and 40,900 mt, occupying 15.03% and 7.22% respectively.

China imported roughly 3.36 million mt of bonded bunker fuel in the first nine months, an upsurge of 16.39% from the corresponding months in 2023, speeding up from a rise of 11.86% in January-August.

China’s bonded bunker fuel imports are expected to hit a 23-month high in October, as domestic supply tightens amid quota shortages.

Chinese bonded bunker suppliers have imported more LSFO to meet demand lately, as Chinese refiners have cut their production amid shortage of quotas, according to market sources. By the end of September, Chinese oil refiners with LSFO export quotas (Sinopec, PetroChina, CNOOC, Sinochem and Zhejiang Petroleum and Chemical) had used 87.4% of their 2024 quotas, leaving quotas on only about 1.63 million mt for the last quarter, JLC’s data shows. This means they are likely to produce an average of roughly 545,000 mt of LSFO a month in the last quarter, versus a monthly average of about 1.26 million mt in January-September.

Bonded bunker fuel imports by source, Sept 2024 JLC Nov 2024

Domestic-trade bunker fuel supply tightens in October

Domestic-trade bunker fuel supply tightened in October, as cargo delivery was impeded by strict tax inspection, though the availability of blendstock increased.

Chinese blenders supplied about 370,000 mt of heavy bunker fuel in the month, a cut of 30,000 mt or 7.50% month on month, JLC’s data shows. At the same time, domestic-trade MGO supply slipped to 160,000 mt, down by 10,000 mt or 5.88% from a month earlier.

Arrival of imported fuel oil cargoes JLC Nov 2024

Bunker Prices, Profits

China main oil blending feedstock prices JLC Nov 2024

China domestic trading 180cSt bunker price, 2023 2024 JLC Nov 2024

China bunker blending profit by region, 2024 JLC Nov 2024

Editor
Yvette Luo
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Sales (Beijing)
Tony Tang
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Sales (Singapore)
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JLC Network Technology Co., Ltd is recognised as the leading information provider in China. We specialise in providing the transparent, high-value, authoritative market intelligence and professional analysis in commodity market. Our expertise covers oil, gas, coal, chemical, plastic, rubber, fertilizer and metal industry, etc.

JLC China Bunker Fuel Market Monthly Report is published by JLC Network Technology Co., Ltd every month on China bunker market, demand, supply, margin, freight index, forecast and so on. The report provides full-scale & concise insight into China bunker oil market.

All rights reserved. No portion of this publication may be photocopied, reproduced, retransmitted, put into a computer system or otherwise redistributed without prior authorization from JLC.

Related: JLC China Bunker Fuel Market Monthly Report (September 2024)
Related: JLC China Bunker Fuel Market Monthly Report (August 2024)
Related: JLC China Bunker Fuel Market Monthly Report (July 2024)
Related: JLC China Bunker Fuel Market Monthly Report (June 2024)
Related: JLC China Bunker Fuel Market Monthly Report (May 2024)
Related: JLC China Bunker Market Monthly Report (April 2024)
Related: JLC China Bunker Market Monthly Report (March 2024)
Related: JLC China Bunker Fuel Market Monthly Report (February 2024)
Related: JLC China Bunker Market Monthly Report (January 2024)

Note: China-based commodity market information provider JLC Technology has been providing Singapore bunkering publication Manifold Times China bunker volume data since 2020. Data from earlier periods are available here.

 

Photo credit: JLC Network Technology
Published: 13 November 2024

 

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Bunker Fuel Availability

ENGINE: East of Suez Bunker Fuel Availability Outlook (12 Nov 2024)

VLSFO and LSMGO availability is normal in Singapore; bunker demand is low in Zhoushan; LSMGO availability is good in Omani ports.

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ENGINE East of Suez 1

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:

  • VLSFO and LSMGO availability is normal in Singapore
  • Bunker demand is low in Zhoushan
  • LSMGO availability is good in Omani ports

Singapore and Malaysia

Bunker demand in Singapore has increased this week, according to a source. VLSFO availability remains stable, with several suppliers now advising lead times of 2-8 days, compared to last week’s 4-7 days.

HSFO supply has also improved, with lead times reduced to 4-8 days from last week’s 5-11 days. LSMGO availability remains steady, with nearly unchanged lead times of 2-6 days.

Singapore's residual fuel oil stocks have averaged 1% higher this month compared to October, according to Enterprise Singapore’s data. The port’s fuel oil imports are down sharply, averaging 1.98 million bbls this month versus 7.55 million bbls in October, while exports have also fallen from 3.05 million bbls to 789,000 bbls. Middle distillate stocks at the port have remained steady.

At Malaysia's Port Klang, VLSFO and LSMGO supplies are abundant, with some suppliers offering prompt deliveries for smaller volumes, while HSFO availability remains limited.

East Asia

Availability in Zhoushan remains stable amid low bunker demand, with suppliers recommending lead times of 5–7 days, consistent with last week.

In Northern China, Dalian and Qingdao ports have sufficient supplies of VLSFO and LSMGO, although Qingdao has limited HSFO. Tianjin is experiencing tight supplies of HSFO and LSMGO, but VLSFO availability is adequate. In Shanghai, LSMGO is easily available, while VLSFO and HSFO are scarce. Fuzhou has strong stocks of both VLSFO and LSMGO, while Xiamen has limited LSMGO despite good VLSFO supply. Prompt availability of both grades remains limited in Yangpu and Guangzhou.

In Hong Kong, lead times for all bunker grades remain steady at seven days. Strong winds of 24-31 knots and swells over two meters are expected on Wednesday and Thursday, which may disrupt bunkering.

The Hong Kong Observatory (HKO) has issued a standby alert for Tuesday due to the potential impact of Tropical Storm Toraji, which was located about 630 km southeast of Hong Kong on Tuesday morning.

The storm is forecast to move west-northwest across the northern South China Sea, and the HKO will reassess the situation and issue higher warning signals if needed, according to GAC Hot Port News.

In Taiwan’s ports—Hualien, Kaohsiung, and Keelung—VLSFO and LSMGO remain readily available with consistent lead times of two days, the same as last week. In Taichung, lead times for both grades are around four days.

In South Korean ports, lead times for VLSFO and LSMGO have shortened from 4-12 days last week to 2-7 days now. However, HSFO supply has tightened further, with most suppliers running low on stocks due to high demand, making HSFO availability limited. Last week, suppliers recommended lead times of 8-12 days for HSFO.

Adverse weather is expected to disrupt bunker operations intermittently at Ulsan, Onsan, Busan, and Yeosu ports from 13-17 November, with potential interruptions at Daesan and Taean between 16-17 November.

VLSFO supply is generally stable at Japanese ports, although prompt deliveries are limited in Oita. HSFO availability is tight for prompt delivery at most ports, while LSMGO is readily available at major ports such as Tokyo, Chiba, Yokohama, Kawasaki, Osaka, Kobe, Sakai, Nagoya, Yokkaichi, Mizushima, and Oita.

Oceania

A bunker barge has been in dry dock since September, limiting VLSFO availability by barge at Fremantle and Kwinana ports until mid-November. LSMGO remains available at berth. Port Kembla, however, remains unaffected, with bunkering available by truck and ex-pipe.

In New South Wales, Sydney has sufficient LSMGO, though HSFO may require longer lead times. Melbourne and Geelong in Victoria have ample VLSFO and LSMGO, but prompt HSFO deliveries may be challenging.

In Queensland, Brisbane and Gladstone report adequate VLSFO and LSMGO with 7-8 day lead times, although HSFO availability in Brisbane is limited.

In New Zealand, Tauranga and Auckland have good VLSFO supplies, with Auckland also well-stocked in LSMGO. However, rough weather in Tauranga on Thursday and Friday could disrupt bunker operations.

South Asia

VLSFO and LSMGO availability remains tight at several Indian ports, including Kandla, Mumbai, Tuticorin, Chennai, and Cochin, consistent with recent weeks. In Visakhapatnam, Paradip, and Haldia, both grades are subject to availability.

Meanwhile, Sri Lanka's ports of Colombo and Hambantota have ample supplies of VLSFO, LSMGO and HSFO, with prompt lead times available.

Middle East

Prompt fuel availability in Fujairah remains tight, with lead times of around 5-7 days for all grades, consistent with last week. In Khor Fakkan, suppliers are also recommending 5-7 days for all grades.

In Basrah, Iraq, VLSFO and LSMGO are readily available, while both grades are nearly depleted in Ras Laffan, Qatar. Jeddah has a good supply of LSMGO, but VLSFO is limited. Djibouti is facing tight supplies of both VLSFO and LSMGO.

Omani ports, including Sohar, Salalah, Muscat, and Duqm, have ample LSMGO for prompt availability.

By Tuhin Roy

 

Photo credit and source: ENGINE
Published: 13 November 2024

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Bunker Fuel Availability

ENGINE: Americas Bunker Fuel Availability Outlook (7 Nov 2024)

Low demand in Houston; bad weather disrupts GOLA bunkering; Hurricane Rafael makes landfall in Cuba.

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RESIZED ENGINE Americas

The following article regarding bunker fuel availability in the Americas region has been provided by online marine fuel procurement platform ENGINE for post on Singapore bunkering publication Manifold Times:

  • Low demand in Houston
  • Bad weather disrupts GOLA bunkering
  • Hurricane Rafael makes landfall in Cuba

North America

Bunker fuel demand has slowed considerably in Houston this week amid the US presidential election. Fuel grade availability, however, remains strong, with most suppliers offering VLSFO and LSMGO stems for prompt dates with a 5-7 day lead time.

In Bolivar Roads, VLSFO and LSMGO are also readily available for prompt dates, although deliveries depend on weather conditions and anchorage schedules, according to a source.

Bunker operations resumed on Wednesday in the Galveston Offshore Lightering Area (GOLA) following nearly a week-long suspension due to strong winds. Since then, a period of calmer weather has allowed suppliers to address the backlog, but conditions are expected to deteriorate again from Friday, potentially causing further delays.

On the East Coast, prompt VLSFO and LSMGO are available in New York, though demand has been low this week.

West Coast ports, including Long Beach and Los Angeles, have seen sluggish demand. VLSFO and LSMGO availability remains steady, with a 5-day lead time recommended to avoid price premiums for faster deliveries, a trader noted.

Demand at New Orleans Outer Anchorage (NOLA) has been strong this week, with most suppliers able to meet prompt VLSFO and LSMGO requirements.

Caribbean and Latin America

In Balboa, VLSFO and LSMGO availability remains tight, with suppliers requiring a lead time of 7-8 days for prompt dates.

Hurricane Rafael has intensified to a Category 3 storm as it makes landfall in Cuba, raising concerns about its potential impact on US offshore energy operations in the Gulf of Mexico, a source reported.

Operations at the Buckeye Bahamas Hub terminal have been suspended since Monday due to adverse weather, halting bunkering and lightering activities. The terminal operator expects conditions to remain unfavorable until Friday, delaying service resumption.

The Buckeye Hub, a crucial terminal in the region, frequently serves large vessels for refueling and transfers, making it an essential link in the shipping chain.

In Freeport, bunker fuel is available, though bunkering has been paused since late last week due to inclement weather. Deliveries are expected to resume during calmer periods, though further delays are anticipated as weather disruptions persist.

In Argentina’s Zona Comun anchorage, bunkering operations have been suspended since Monday due to wind gusts up to 29 knots, making barge deliveries challenging.

By Debarati Bhattacharjee

 

Photo credit and source: ENGINE
Published: 8 November, 2024

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