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ENGINE: East of Suez Bunker Fuel Availability Outlook

16 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:

15 November 2022

  • Prompt low sulphur supply tightens in Singapore
  • Sluggish demand and high Russian imports in Fujairah
  • Prompt VLSFO mostly available in Indian ports

 

Singapore

Prompt VLSFO and LSMGO availability has tightened in the Singapore bunker market. Recommended lead times for VLSFO have gone from 7-9 days last week to 10-11 days now. LSMGO lead times have gone from 7-10 days to 9-12 days.

HSFO availability has seemingly improved, with lead times shortening from 9-10 days to 5-7 days.

Singapore’s residual fuel oil stocks have averaged 5% lower so far this month than in October, according to Enterprise Singapore. Its middle distillate stocks have averaged 6% lower.

East Asia

Zhoushan’s VLSFO price remains elevated against levels in the other major Asian hubs. Its suppliers have been pricing in a wide range due to high costs for imported cargo volumes, sources say.

VLSFO and LSMGO remains readily available in the Chinese bunkering hub, with recommended lead times of 2-3 days. HSFO requires lead times of five days.

Small quantities of VLSFO are readily available in Hong Kong, while large quantities are subject to enquiry.

Recommended lead times can vary greatly in South Korean ports, and are advised in a wide range of 4-10 days.

South Asia

Availability of VLSFO remains good across several Indian ports, including Mumbai, Mundra and Kandla on the northwest coast, and Cochin and Chennai on the southern coast, with lead times of 2-3 days.

Visakhapatnam’s VLSFO price has seen some upward pressure of late as only one supplier can provide the grade.

Meanwhile, VLSFO availability is subject to inquiry in Tuticorin.

Suppliers in Paradip on India’s east coast have almost run out of VLSFO. Haldia has good availability of VLSFO.

One supplier has started to offer HSFO in Chennai.

Both VLSFO and LSMGO availability remains good across the Sri Lankan ports of Colombo and Trincomalee.

Middle East

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

According to cargo tracker Vortexa, Russia re-emerged as the top fuel oil source for Fujairah in October, a trend that has continued into this month.

Sluggish bunker demand in recent weeks has further contributed to build fuel oil inventories in Fujairah.

Recommended lead times for VLSFO in the UAE port are five days, compared with around seven days for HSFO. LSMGO has recommended lead times of five days.

LSMGO remains readily available in the Omani ports of Sohar and Duqm, with very short lead times of 1-2 days.

By Tuhin Roy

 

Photo credit and source: ENGINE

Published: 16 November, 2022

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