FUJAIRAH DATA: June bunker sales decline 13% on month
18th July 2022 13:06 GMT

 

Fujairah bunker sales in June declined 13% on the month on signs of higher prices curbing demand for the shipping fuel.

 

Total volume dropped to 652,220 cu m from 750,777 cu m in May, with all types of the fuel oil down except for marine gasoil, according to data on the Fujairah Oil Industry Zone website. The total was the lowest since February 2022 and was 2.9% lower than in June 2021. Fujairah is the world's third-biggest bunkering hub, after Singapore and Rotterdam.

Fujairah delivered marine fuel 0.5% sulfur averaged $1,095.91/mt in June, up 19% from the May average of $921.47/mt, according to Platts assessments by S&P Global Commodity Insights. Prices also averaged higher in Singapore, where bunker sales dropped 9% on the month in June, also partly because of high bunker prices.

Besides the high bunker prices, Fujairah bunker fuel sales also fell as some ships refueled at other nearby ports, such as Dammam and Ras Tanura in Saudi Arabia, because of congestion at Fujairah, traders said. Maintenance at the Uniper refinery in Fujairah also limited supplies, the trading sources added.

Supplies of marine fuel 0.5% sulfur content and gasoil in Fujairah were especially tight, with lead times as long as seven to eight days compared with normal time of four to five days.

Sales in July are expected to rebound, partly as more supplies will be available, traders said.

In Fujairah, LSFO 180 CST sales in June declined 18% on the month to 372 cu m, while LSFO 380 CST dropped 13% to 482,926 cu m. Marine gasoil volumes climbed 18% to 1,287 cu m. HSFO 380 CST sales fell 14% to 132,690 cu m.

MayJune% change on monthLow sulfur fuel oil 180 CST453372-17.88Low sulfur fuel oil 380 CST555151482926-13.01Marine fuel oil 380 CST154721132690-14.24Marine gas oil1087128718.40Low sulfur marine gas oil3365229909-11.12Lubricants57135036-11.85Total750777652220-13.13

Units: cu m

Source: Fujairah Oil Industry Zone


Platts ,
18th July 2022 13:06 GMT