ENGINE: East of Suez Bunker Fuel Availability Outlook
Lead times for HSFO380 stems have dropped to 10 days in Singapore, down from 12-15 days two weeks ago. The high sulphur fuel grade has become more available in the port amid lower demand, sources say.
VLSFO stems continue to require 6-8 days of lead time in Singapore. LSMGO lead times are also unchanged on the week at 4-5 days.
Singapore’s residual fuel oil stocks were drawn and slipped to 24.56 million bbls last week, Enterprise Singapore data showed. There is still considerably more fuel oil stored in the bunkering hub than in the first quarter of the year, following a big stockbuild in April.
Fujairah’s tight low sulphur fuel market has eased some this week, with lead times for VLSFO and LSMGO stems dropping to five days. Lead times for HSFO380 have come down by two days to eight days now.
Zhoushan and Shanghai continue to have good availability for VLSFO and LSMGO, with lead times standing at just three days.
HSFO380 stems are in tight supply in Zhoushan, where the earliest delivery date is from 15 May onwards.
Lead times are down to six days for VLSFO stems in South Korea’s southern ports this week, and availability for the fuel grade continues to be tight. Offers may be limited this week because of a public holiday in South Korea on 5 May.
Lead times for VLSFO and LSMGO bunker stems in Tokyo Bay are mostly unchanged on the week, while supply of HSFO380 remains tight in the Japan’s ports.
Growing low- and high sulphur fuel oil stocks pushed Japan’s total fuel oil inventories up 2% on the week to stand at 11.97 million bbls, according to data from the Petroleum Association of Japan. The country’s low sulphur fuel oil stocks rose amid lower exports, and imports for the first time in several weeks.
Source: ENGINE (https://engine.online/)