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:
10 January 2023
Singapore
Singapore has been witnessing steady demand so far this week. The lead-up to the upcoming Chinese Lunar New Year holiday might lend further support to demand, a source says. Recommended lead times for VLSFO remain almost unchanged from last week at 11-13 days.
Lead times of 12-14 days are recommended for HSFO in Singapore – also similar to last week. LSMGO availability is good in Singapore, with lead times of 3-5 days, which is slightly up from 2-4 days previously.
Singapore’s residual fuel oil stocks have averaged 3% higher so far in January than in December, despite a 2% decline in imports, according to Enterprise Singapore. Singapore’s fuel oil exports have plunged by 60%, resulting in a bigger net import surplus.
The port’s middle distillate stocks, meanwhile, have averaged 15% higher in the first few days of this month than in December.
East Asia
Zhoushan has been seeing improved demand so far this week, following a period of prolonged weakness, a source says. The port continues to price its VLSFO at competitive levels to attract demand. However, bad weather forecast for next weekend might play spoilsport, as it might hamper bunker operations at anchorage.
Replenishment cargo volumes have arrived in Zhoushan to ease VLSFO tightness, bringing down lead times to 3-5 days from almost seven days previously. Another VLSFO cargo is due to arrive around the weekend, which is likely to improve supply further.
LSMGO remains readily available with lead times of 2-3 days. HSFO availability is getting tighter in Zhoushan as some suppliers are sold out. Lead times of 5-7 days have been recommended for HSFO in the port. One supplier is likely to receive an HSFO cargo around 18 January, which might alleviate the recent tightness, a source says.
Availability of all grades remains good in Hong Kong with lead times of around seven days required. A source says suppliers in Hong Kong have been witnessing declining demand so far this week.
Southern South Korean ports have lead times of 5-7 days for all grades, while western South Korean ports require slightly shorter lead times of 3-4 days.
South Korean ports of Ulsan, Onsan, Daesan, Taean and Yeosu may witness weather-related disruptions from Friday onwards.
HSFO availability remains tight across the Indonesian ports of Balikpapan, Jakarta, Surabaya, Benoa and Batam.
Bad weather might impact bunkering in the Thai ports of Koi Sichang and Leam Chabang from today onwards and likely to persist through the week.
The Vietnamese ports of Ho Chi Minh City and Hai Phong might see delivery disruptions throughout the week, with unfavourable weather conditions forecast to hit the ports today and tomorrow, respectively.
South Asia
India’s Mumbai has good availability of VLSFO and LSMGO, with lead times of 2-3 days recommended.
Prompt dates for VLSFO are available in Mundra and Kandla on India’s northwest coast. LSMGO remains readily available in Kandla, while a supplier in Mundra has almost run out of stock.
Bad weather is likely to disrupt bunkering in Sikka, another port on India’s northwest coast, between Wednesday and Thursday, a source says.
Availability of VLSFO and LSMGO remains good in the southern Indian ports of Cochin and Chennai, while Tuticorin’s availability across both the grades remain subject to enquiry.
Visakhapatnam on India’s southwestern coast can offer VLSFO and LSMGO at prompt dates. Lead times of 2-3 days are recommended for VLSFO and LSMGO in Haldia on the eastern coast of India.
The Sri Lankan ports of Colombo and Trincomalee can offer LSMGO for prompt dates.
Middle East
Demand has reportedly been weak in Fujairah so far this week. Sources attributed lower demand to a lack of movement in bulk carriers and container vessels. Recommended lead times for VLSFO have decreased to around seven days, from 8-10 days last week.
Lead times of five days have been advised for LSMGO, down from nine days previously. Lead times for HSFO have gone up slightly in the UAE port, to eight days now, from seven days last week.
The Omani ports of Duqm, Sohar, Salalah and Muscat have very good availability of LSMGO.
By Tuhin Roy
Photo credit and source: ENGINE
Published: 11 January, 2022
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