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ENGINE: East of Suez Bunker Fuel Availability Outlook

09 Nov 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:

8 November 2022

  • Sluggish demand in Zhoushan
  • VLSFO still tight in Hong Kong
  • LSMGO availability remains good in Oman

Singapore

Availability across all grades remain tight for prompt dates in Singapore. HSFO has recommended lead times of 9-10 days, while LSMGO has lead times of 7-10 days, and VLSFO has slightly shorter lead times of 7-9 days.

Singapore’s residual fuel stocks have fallen and averaged 11% lower in the first few days of November than in October, according to Enterprise Singapore.

The port’s middle distillate inventories have also been drawn and averaged 9% lower so far this month compared to October.

East Asia

Zhoushan has been witnessing sluggish demand owing to persistent weather-related disruptions, and because of waning demand from the Indonesian nickel industry due to the country’s rainy season, a source says.

Recommended lead times for VLSFO and LSMGO grades are short at three days, while HSFO requires a longer 5-7 days.

Prompt availability has improved in South Korean ports, where lead times are around 3-5 days. The South Korean ports have been experiencing very weak demand for the past few days, a source says.

Availability of VLSFO is tight in Hong Kong with lead times of eight days. Most suppliers have sold off their VLSFO stocks faster than anticipated, a source says.

Lead times of around six days are recommended for LSMGO and HSFO deliveries in Hong Kong.

South Asia

VLSFO availability remains good in Mumbai, with lead times of around two days.

One supplier can offer VLSFO and HSFO stems in Mundra on India’s northwest coast, with lead times of around seven days recommended.

Prompt dates for VLSFO in Visakhapatnam on India’s southwestern coast remain tight. One supplier can deliver the grade in the wide range of 2-7 days.

Haldia on India’s east coast has good availability of VLSFO.

VLSFO availability remains steady in the Sri Lankan port of Colombo, with short lead times of two days.

Middle East

Fujairah continues to price VLSFO lower than other major Asian bunker hubs on most days.

Fujairah’s heavy distillate and residual fuel oil inventories have grown for two consecutive weeks, the latest data from Fujairah Oil Industry Zone (FOIZ) and S&P Global shows.

Russian fuel oil imports have accounted for 34% of Fujairah’s total in October, up from just under 10% in September, cargo tracker Vortexa data suggests.

Recommended lead times for both VLSFO and HSFO are around eight days in Fujairah, while LSMGO requires about seven days.

The Omani ports of Sohar and Duqm have good availability of VLSFO, with short lead times of two days. Prompt delivery dates for LSMGO are also available in both of the ports.

By Tuhin Roy

 

Photo credit and source: ENGINE

Published: 9 November, 2022

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