VLSFO supply has tightened further in Singapore on the week, with recommended lead times stretching to 13 days, up from 11 days last week. It can be difficult to source fuel on shorter notice.
Terminal congestion continues to be an issue in the bunkering hub, with delayed barge loadings after a Covid-19 outbreak two weeks ago.
Singapore’s HSFO380 availability remains tight with lead times steady on the week at 10-12 days, while LSMGO requires a shorter 6-7 days in advance.
Higher net imports added 1% to Singapore’s residual fuel oil in the week to 20 October, when they stood at 21.69 million bbls, according to Enterprise Singapore data. Singapore’s fuel oil imports grew by just over 5 million bbls on the week, while exports saw a smaller increase.
Fujairah’s bunker market has tightened significantly on the week, resulting in longer lead times for all three fuel grades. Suppliers are facing cargo shortages due to a lack of blending components, with earliest delivery dates stretching up to the second week of November.
HSFO380 has among the longest lead time in the UAE bunkering hub, at 14 days, while VLSFO and LSMGO require a shorter 10 days, up from six days last week.
Fujairah’s fuel oil stocks gained by 9% on the week, to 7.75 million bbls on 18 October, data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global Platts showed last week.
Bunker supply operations restarted in Zhoushan on Monday, after being disrupted since last Thursday on rough weather. Lead times vary between suppliers, but with some able to offer as soon as 28 October.
HSFO380 supply has become more difficult in Zhoushan this week, with only one supplier able to offer the fuel grade. Earliest replenishment is expected for early November, sources say.
Meanwhile, Shanghai did not experience any weather disruptions last week. Availability of VLSFO and LSMGO remains good, while HSFO380 is tight in the Chinese port.
In Tokyo Bay, the earliest delivery for low sulphur fuel grades is 3-4 November, while HSFO380 usually requires longer lead times to ensure timely delivery.
Source: ENGINE
