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ENGINE: East of Suez Bunker Fuel Availability Outlook

Singapore

A source says that bunker demand has been “rather muted” so far this week in Singapore. VLSFO availability has come under pressure due to product loading delays at oil terminals.
Lead times for the grade have gone up from 6-10 days last week to 9-13 days now.

Prompt availability of HSFO remains tight in the port, with most suppliers advising lead times of 6-9 days – virtually unchanged from last week. LSMGO, on the other hand, remains readily available, with short lead times of 2-4 days.

Singapore’s residual fuel oil stocks have averaged 2% lower so far in September than across August, according to Enterprise Singapore. The port’s net fuel oil imports have risen 11% so far in September. Both imports and exports are up this month. While fuel oil imports are up by 10%, exports rose by 5%.

Meanwhile, the Southeast Asian bunker hub’s middle distillate stocks have surged 17% on the month.

China and East Asia

Securing prompt stems in Zhoushan can be difficult now, as several suppliers have extended their delivery lead times due to upcoming holidays in China. The Mid-Autumn Festival and National Day holidays will be observed in the country from 29 September to 8 October.

Suppliers in Zhoushan have cautioned about bunkering delays during the holiday period, recommending lead times of up to two weeks, from 3-5 days last week. Some can still supply during the holiday period, but only for stems booked before Tuesday, a source says.

VLSFO and LSMGO availability is good in the northern Chinese port of Dalian. In nearby Tianjin, VLSFO availability remains good, but LSMGO and HSFO supply are under pressure and deliveries are subject to enquiry. Qingdao, another northern Chinese port, has a good supply of VLSFO and LSMGO, but HSFO supply is subject to enquiry there as well.

Prompt VLSFO and LSMGO supply is available in Shanghai in southern China, but HSFO supply remains under pressure. The other southern China port of Xiamen has good avails of VLSFO and LSMGO. Meanwhile, prompt availability remains tight for VLSFO and LSMGO in Yangpu.

On the other hand, the supply of both grades remains under pressure in the Chinese ports of Fuzhou and Guangzhou, with deliveries subject to enquiry.

All bunker fuel grades remain in good supply in Hong Kong, with lead times of 5-7 days recommended – virtually unchanged from last week.

Strong wind gusts of 20-21 knots and waves of more than a metre are forecast to hit Hong Kong between 1-2 October, which might disrupt bunker deliveries.

High waves are forecast to hit the southern South Korean ports of Busan, Ulsan, Onsan and Yeosu from Friday, which may impact bunker operations until Sunday. The western South Korean ports of Daesan and Taean also face possible bunker disruptions this week, with high waves and strong wind gusts forecasted on Saturday and Sunday.

Demand has grown in South Korean ports ahead of the Mid-Autumn Festival and National Foundation Day holidays between 1-3 October, and the Hangul Proclamation Day on 9 October, a source says.

Availability of VLSFO and LSMGO is tight in South Korean ports, with recommended lead times varying widely between 5-11 days. HSFO requires a shorter lead time of 6-8 days.
Adverse weather conditions are also predicted in the Thai ports of Koh Sichang and Leam Chabang between 28-29 September, in the Vietnamese port of Ho Chi Minh on 27 September, and in the Kiwi port of Tauranga between 27 September to 2 October, which might disrupt bunkering in these ports.

South Asia

VLSFO and LSMGO can be delivered with around 2-3 days of lead time in several Indian ports, including Kandla on the northwest coast and Cochin and Chennai on the southern coast.

Both grades remain relatively tight in Mumbai and Visakhapatnam, where deliveries are still subject to availability. Meanwhile, supply is subject to enquiry in Tuticorin port located on the southeast coast and Haldia on the east coast as it has been in recent weeks. A supplier in Paradip on the eastern coast of India is almost out of stock for both grades.

A source says that the Sri Lankan port of Colombo has good avails of all three bunker fuel grades. Bad weather is forecast to hit Colombo between 3-4 October, which may hamper bunker operations.

Middle East

A source says good bunker demand has kept prompt availability under pressure in Fujairah, with most suppliers recommending lead times of 5-7 days – almost unchanged from last week. But some suppliers can still offer prompt dates across all grades depending on stem sizes.

Availability across all bunker fuel grades remains in good supply in the other UAE port of Khor Fakkan, with unchanged lead times of 5-7 days recommended.

Meanwhile, LSMGO remains readily available in the Omani ports of Muscat, Duqm, Salalah and Sohar, with prompt dates available.
Source: ENGINE, By Tuhin Roy, https://engine.online/news

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