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ENGINE: East of Suez Bunker Fuel Availability Outlook

05 Oct 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:

4 October 2022

By Nithin Chandran

  • Availability tight across all grades in Zhoushan
  • Bunker demand remains weak across South Korean ports
  • Singapore prices rebound from multi-month lows

Singapore

All grades remain in tight availability for prompt dates in Singapore. Recommended lead times for VLSFO and LSMGO are about 10-13 days. HSFO has a shorter lead time of 8-11 days.

Some suppliers in Singapore can offer VLSFO with a shorter lead time of about eight days, sources say.

The port’s VLSFO and HSFO benchmarks have recovered some of their losses after hitting their lowest levels in eight and 16 months, respectively, last month. The recent gains in Brent values have contributed to lift their prices.

Singapore’s residual fuel oil inventories were drawn in the latest week of September, but still averaged higher across the month than in August, according to Enterprise Singapore.

East Asia

Bunker fuel availability is tight across all grades in Zhoushan. Lead times have been pushed back, with several suppliers’ earliest delivery dates now after the Golden Week Holidays that run from 1-7 October.

Some suppliers in Zhoushan are running low on stocks and expect replenishments to arrive only after the holidays, sources say.

All grades remain in normal availability in South Korea’s southern and western ports. Recommended lead times are about four days, and shorter than last week’s 7-8 days.

Bunker demand has been sluggish in South Korean ports in recent weeks, partly as a result of multiple bunker suspensions triggered by cyclones. Sources expect demand to rebound this month.

Prompt supply can be tight in Hong Kong. A supplier can offer a limited volume of VLSFO for prompt dates, a trader says.

LSMGO availability is normal in the Philippines’ Manila. A supplier can offer deliveries for prompt dates.

VLSFO availability remains normal in Indonesia’s Jakarta and Surabaya. Recommended lead times are around 4-6 days.

South Asia

VLSFO and LSMGO supply remain steady in India’s Mumbai. Some suppliers can offer deliveries for prompt dates. Another requires at least 5-6 days of lead time. HSFO offers are mostly subject to enquiry.

VLSFO and HSFO supply is normal in Mundra on India’s northwest coast and requires lead times of 4-5 days, slightly up from last week’s 3-4 days.

Bunker fuel availability remains good in Sri Lanka’s Colombo. Recommended lead times are about 4-5 days and some suppliers can offer deliveries for prompt dates. Bunker deliveries were impacted at the port’s outer limits (OPL) on Monday due to rough weather conditions. Some suppliers are insisting on deliveries at inner anchorages to avoid delays, sources say.

Middle East

All grades remain in tight availability for prompt dates in Fujairah. Recommended lead times for HSFO, VLSFO and LSMGO are about 6-8 days.

Fujairah’s HSFO price premium over Singapore has narrowed considerably in recent days. Some suppliers have been trimming their prices to clear stocks, a trader says.

VLSFO and LSMGO supply is readily available for prompt dates in Oman’s Sohar.

 

Photo credit: ENGINE
Published: 5 October, 2022

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