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ENGINE: East of Suez Bunker Fuel Availability Outlook

03 Feb 2022

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:

2 February, 2022

  • VLSFO availability improves slightly in Singapore
  • Resupply to boost Zhoushan HSFO380 availability
  • Bunkering more limited during Lunar New Year holiday

VLSFO availability in Singapore has improved slightly, with suggested lead times shortening to 10-11 days.

The port’s net residual fuel oil imports quadrupled to 8.38 million bbls in the week to 26 January, according to Enterprise Singapore data. Cargo inflows helped boost Singapore’s inventories by 12% to a four-week high of 23.78 million bbls.

Meanwhile, Singapore’s middle distillate stocks were down by a slight 70,000 bbls, to 8.46 million bbls.

LSMGO lead times in Singapore have gone up by one day in the past week, to 6-8 days now. Suggested HSFO380 lead times in the port are unchanged at about 10 days out.

In Fujairah, VLSFO and LSMGO lead times have come down to eight days for both grades, while HSFO380 lead times remain up to 10 days out.

Fujairah’s heavy distillates and fuel oil inventories slipped 1% to 9.84 million bbls on 24 January, according to Fujairah Oil Industry Zone and S&P Global Platts data.

In Hong Kong, bunker fuel availability remains tight with a premium being charged for bunkering by some suppliers until 4 January owing to the Chinese Lunar New Year holiday. VLSFO availability had previously tightened in the port due to the alleged discovery of an off-specification cargo load.

Bunkering is also limited in Zhoushan during the holiday, with certain suppliers charging price premiums. Bunker fuel availability in Zhoushan is tight for all fuel grades. The port’s VLSFO lead times have increased to eight days. One HSFO380 supplier expects stock replenishment by 5 February.

There is no to limited bunker supply in South Korea during the Lunar New Year holiday in the country. Suppliers are set to offer fuel again from 2 February, and start supplying stems from 3 February, sources say.

In Japan, availability across bunker fuel grades remains tight with suggested lead times of 12-14 days for HSFO380 and VLSFO in Tokyo Bay. LSMGO stems require 7-9 days of lead time. Recent weather disruptions led to port congestion and longer lead times, a source said.

 

Photo credit: ENGINE
Published: 3 February, 2022

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