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ENGINE: East of Suez Bunker Fuel Availability Outlook

28 Apr 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:

27 April 2021

Lead times for bunker stems are similar as last week in Singapore, while supply has tightened in Fujairah, Port Suez and in South Korean ports this week.

VLSFO stems still require 6-8 days of lead time. LSMGO lead times are also unchanged on the week at 4-6 days. That is not the case for HSFO380 stems in the bunkering hub, with lead times for the high sulphur fuel grade stretching to 12-15 days ahead.

Singapore’s residual oil stocks grew by another 4% last week to stand at 24.81 million bbls, the highest levels since early December of last year, according to Enterprise Singapore data published last Thursday. Fuel oil imports dropped 15% to 7.93 million bbls, while fuel oil exports slipped by 1%.

Singapore’s middle distillate stocks were broadly steady on the week, inching up by 60,000 bbls to stand at 13.49 million bbls.

Fujairah’s bunker market has tightened this week, with lead times for low sulphur fuels almost doubling up on the week to stand at nine days now. Three bunker suppliers are tied up with deliveries in the UAE hub until late next week, while others can deliver prompt in the port. Lead times for HSFO380 stems are also longer by four days on the week, stretching to 10 days now.

Port Suez is left without any HSFO380 and VLSFO, but availability is set to improve next week. LSMGO is in good supply in the port.

VLSFO supply has also tightened in South Korea’s southern ports, including Busan. Lead times stand at seven days now, up from 4-5 days last week. HSFO380 stems are also tight in the country’s main ports.
Low sulphur fuels continue to be in good supply in Zhoushan and Shanghai, with three days of lead time required. HSFO380 stems are more difficult to procure in Chinese ports as some suppliers are left without any product and without resupply dates set.

Lead times in Tokyo Bay are unchanged for another week, standing at seven days for low sulphur bunker fuels. Japanese bunker suppliers will not deliver LSMGO while the country observes public holidays on 29 April and between 3-5 May during the Golden Week celebrations. HSFO380 and VLSFO supply will continue as normal during the public holidays, sources say.


Photo credit and source:
Engine
Published: 28 April, 2021

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