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ENGINE: East of Suez Bunker Fuel Availability Outlook

19 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:

18 October 2022

  • Zhoushan’s OPL bunkering remains suspended
  • Wider Fujairah VLSFO discounts to other hubs
  • VLSFO availability tight in South Korean ports

 

Singapore

Prompt availability is still tight for all the main bunker fuel grades in Singapore. HSFO has the longest recommended lead times of 11-13 days, followed by 10-12 for VLSFO and 8-10 days for LSMGO.

LSMGO availability started tightening at the beginning of the month, while the fuel oil grades have been tight for months.

Singapore’s residual fuel oil inventories were drawn by a massive 12% in the week ending 12 October, but the stocks have still averaged 1% higher in October than in September., according to Enterprise Singapore.

 

East Asia

Bunker operations at Zhoushan’s outer port limits (OPL) have been suspended since Friday. OPL activity is likely to resume on Wednesday, when calmer weather is forecast, according to White Whale Shipping Agency.

Weather-related disruptions have led to bunker congestion in Zhoushan. The number of vessels waiting to bunker across Zhoushan’s anchorages has increased by six since Monday to 19 vessels on Tuesday, according to White Whale Shipping Agency.

VLSFO availability remains tight in Zhoushan as weather-related disruptions have caused backlogs to build. Recommended lead times for VLSFO are around five days. Some suppliers can offer prompt lead times of two days for smaller quantities, sources say. Recommended lead times for LSMGO are about five days, and lead times of 5-7 days are advised for HSFO.

Bunker operations have been slowed by rough weather in some of South Korea’s southern and western ports, sources say.

VLSFO availability remains tight in South Korean ports as most suppliers are running low on stocks. Only one supplier can offer VLSFO with lead times of around of five days now. The rest of the suppliers can only offer delivery dates from the first week of November, sources say.

LSMGO and HSFO availability remains steady in the South Korean ports with lead times of 4-9 days.

Availability across all fuel grades is getting tighter in Hong Kong with lead times of around seven days advised.

 

South Asia

VLSFO can be delivered with around 2-3 days of lead time in several Indian ports, including Mumbai, Mundra and Kandla on the northwest coast, and Cochin and Chennai on the southern coast.

Visakhapatnam on India’s east coast is almost out VLSFO, while availability of VLSFO has been normal in Kakinada.

VLSFO availability remains good in the Sri Lankan port of Colombo with lead times of 1-3 days.

 

Middle East

Fujairah’s VLSFO price moved to discounts to Singapore and Zhoushan in the first week of October, and these discounts have more than doubled since then.

The UAE port’s residual fuel oil stocks have averaged 3% bigger so far this month than in September, with a major increase in imports of Russian fuel oil barrels contributing to a net import surplus. This, together with weak bunker demand, has triggered some suppliers to lower prices in an effort to stimulate demand.

Recommended lead times for VLSFO in the port are around six days. Lead times for HSFO are seven days, and about four days for LSMGO.

By Tuhin Roy

 

Photo credit and source: ENGINE
Published: 19 October, 2022

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