Home / Shipping News / International Shipping News / Asia Fuel Oil-HSFO spot discounts hold, Fujairah stockpiles at 7-month low

Asia Fuel Oil-HSFO spot discounts hold, Fujairah stockpiles at 7-month low

Spot differentials for high sulphur fuel oil (HSFO) held in discounts as of Wednesday, while residual fuel stockpiles at the UAE’s Fujairah fell to a seven-month low, latest data showed.

More supply has been flowing from the Middle East to Asia this month, ship-tracking data showed this week.

Meanwhile, bunker demand at Fujairah has also been healthy in the week, some trade sources said, contributing to a drawdown in inventories.

Ample high-sulphur inventories in East Asia have led to a weak spot HSFO market in recent sessions, with selling interest persisting, though discounts narrowed slightly on Wednesday.

On the low-sulphur front, the cash premium extended a slight rebound on a firmer trade, though bunker premiums remain capped, sources said.

INVENTORY DATA

– Fujairah inventories fell 11.2% to 8.31 million barrels (1.31 million tons) in the week to Feb. 19, FOIZ data published by S&P Global Commodity Insights showed.

OTHER NEWS

– Oil regained some ground on Wednesday amid concerns over attacks on shipping in the Red Sea and growing expectations that cuts to U.S. interest rates will take longer than thought.

– Oil refining in Russia has decreased by about 7% since the beginning of the year, Russian Energy Minister Nikolai Shulginov said on Tuesday.

– Demand for sustainable aviation fuel should see a long-sought boost after regional airline hub Singapore said it would require SAF on flights from 2026, but high costs and uncertain raw material supply will mean barriers to wider adoption remain.

– India will invite private firms to invest about $26 billion in its nuclear energy sector to increase the amount of electricity from sources that do not produce carbon dioxide emissions, two government sources told Reuters.

WINDOW TRADES

– 180-cst HSFO: No trade
– 380-cst HSFO: No trade
– 0.5% VLSFO: One trade
Source: Reuters (Reporting by Jeslyn Lerh; Editing by Devika Syamnath)

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping