Bunker sales at the Middle Eastern hub of Fujairah declined on the year to the lowest level since August last month. Fujairah‘s total sales excluding lubricants totaled 635,471 m3 in October, according to the latest data from the Fujairah Oil Industry Zone and S&P Global Commodity Insights. The total was down by 2.9% on the year, but up by 3.3% from September’s level, Ship & Bunker reported.
Annualising Fujairah’s year-to-date sales would give a 2024 total of 7.68 million mt, up by 2.7% on the year and the most since 2022.
Singapore, the world’s largest bunkering hub, saw total sales climb by 10.1% on the year and by 11% on the month in October.
180 CST VLSFO sales in Fujairah gained 220.7% on the year to 2,540 m3 in October. 380 CST VLSFO dropped by 10.2% to 403,915 m3, 380 CST HSFO gained 22.4% to 200,894 m3, MGO sank by 94.8% to 88 m3 and LSMGO lost 26% to 28,034 m3.
HSFO took up 31.6% of the total, up from 25.1% a year earlier.
Fujairah’s average VLSFO price in October was $583.50/mt, down by 3.4% on the month and by 11.1% on the year.
Singapore’s average VLSFO price in October was $596/mt, down by 1.2% from September’s level and by 10.8% from the level seen a year earlier.
Ship & Bunker’s G20-VLSFO Index of average prices across 20 leading bunkering ports gained 0.6% on the month and lost 10% on the year to $605.50/mt in October.
In Kuwait, domestic LSFO consumption levels would have declined as the peak summer season gradually passed, possibly leaving more product for export for the rest of this year, traders said.
Stockpiles of heavy distillates at the UAE’s Port of Fujairah — the world’s third-largest bunkering hub — rose 5.2% on the week to an over two-month high of 9.147 million barrels in the week ended Nov. 18, the latest Fujairah Oil Industry Zone data showed.
Bunker fuel sales in Fujairah were up 3.1% month over month in October but were down 3% year over year at 639,116 cu m, while LSFO sales rose 1.9% month over month and 3.6% year over year to 403,915 cu m, the data showed.
Sources : Agencies
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