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ENGINE: East of Suez Bunker Fuel Availability Outlook

12 May 2021

The following article regarding regional bunker fuel availability outlooks for East of Suez ports with special attention to availability in Singapore has been provided by online marine fuels procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

11 May 2021

Lead times for low sulphur fuel stems are steady on the week in Singapore, Zhoushan and Tokyo, while prompt supply has improved in Fujairah.

Singapore’s fuel oil inventories surged 11% higher to 27.23 million bbls last week – their highest level since March 2017, Enterprise Singapore data shows. There is more fuel oil in storage as imports have declined and local bunker demand has been muted. The port’s middle distillate stocks rose by 4%.

A combination of growing fuel oil and gasoil stocks and a slowdown in bunker demand has shortened lead times in Singapore. VLSFO stems now require bookings 6-8 days ahead, down from more than 10 days a month ago. LSMGO is also readily available in the port with 4-5 days of lead time needed, down from 5-7 days a month ago.

HSFO380 continues to be less available in the bunkering hub, with lead times steady on the week at 10 days ahead, while shorter compared to 12-15 days during April.

Fujairah’s lead times for VLSFO and LSMGO stems have improved on the week standing at four days, down from five days last week. HSFO380 supply remains tight.

Ships arriving in the UAE port of Khor Fakkan from India will have to complete a 14-day quarantine before crew changes are allowed, Khorfakkan Immigrations has announced. Fujairah has banned crew changes for ships sailing from India since late April, following surging Covid-19 cases in the country.

Northern Chinese ports, including Lianyungang, Lanshan, Rizhao and Qingdao, were hit by rough weather late last week, disrupting bunkering operations in the region over the weekend. Operations have now resumed, and supply backlogs have already been cleared in the local ports.

The bunkering hub of Zhoushan was unaffected by the rough weather as it is located further south. Both Zhoushan and Shanghai require just three days of lead time for low sulphur fuel stems, the shortest among most East of Suez ports. HSFO380 supply is tighter in the two neighbouring Chinese ports, but with some suppliers able to accommodate prompt stems.

Lead times for low sulphur fuel stems in Tokyo are steady on the week, standing at seven days, while HSFO380 supply continues to be tight.

The earliest delivery date for VLSFO in southern South Korean ports stands at 15-16 May. Similar to Tokyo, HSFO380 is tighter in South Korean ports with limited availability.

 

Photo credit: ENGINE
Published: 12 May, 2021

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