Singapore
A source says Singapore has been witnessing “average” demand so far this week. Availability of HSFO remains tight in port, with recommended lead times of 9-13 days – virtually unchanged from last week.
Prompt VLSFO availability also remains tight in the East Asian bunker hub, with some suppliers advising lead times of 6-9 days – almost unchanged from last week. On the other hand, LSMGO remains readily available for prompt delivery dates.
Residual fuel oil stocks in Singapore averaged 5% higher in June than in May, data from Enterprise Singapore shows. Singapore’s net fuel imports surged massively by 42%, to their highest level in more than a year. While fuel oil imports rose 17% in June, fuel oil exports fell by 24%, reaching their lowest level since last October. This has comfortably tilted the port’s trade balance into net imports in June.
The port’s middle distillate stocks were also up, rising by 5% on the month.
East Asia and Oceania
Weak demand and weather-related disruptions have kept tightness in check in Zhoushan, a source says. Availability remains good across all grades, with short lead times of 2-5 days, however, deliveries are subject to weather conditions.
Bunker operations have been suspended by rough weather at three of Zhoushan’s anchorages since Monday. But some suppliers can still deliver bunker stems via barges but depending on the weather conditions. The queue time for bunkering at Mazhi was around two days on Tuesday, the source adds.
Strong wind gusts of 20-32 knots and waves of almost a metre are forecast to persist in the Chinese bunkering hub until 17 July, which might keep bunkering suspended for a while.
Demand has been low in Hong Kong so far this week. Availability across all grades remains good, with unchanged lead times of around seven days.
Meanwhile, securing VLSFO stems can be difficult in South Korean ports. The grade remains subject to enquiry as it has been for the past week. Most suppliers, that were offering LSMGO and HSFO at lead times of 4-11 days in the past week, are now offering both grades at 6-10 days.
The South Korean ports of Ulsan, Onsan, Busan, Daesan, Taean and Yeosu are forecast to experience adverse weather conditions intermittently between 12-16 July, which could disrupt bunker deliveries.
Adverse weather conditions are also forecast on 16 July in the Philippine port of Subic Bay, between 15-18 July in the Thai ports of Koh Sichang and Leam Chabang, between 16-17 July in the Vietnamese of Ho Chi Minh, and between 11-16 July in the Kiwi port of Tauranga, which might hamper bunker operations.
South Asia
VLSFO and LSMGO grades can be delivered with around 2-3 days of lead time in Kandla on the northwest coast of India, and southern ports of Cochin and Chennai.
A source says that availability of both grades remains tight in the Indian ports of Mumbai, Visakhapatnam and Paradip and delivery dates are subject to availability. On the other hand, the supply of both grades remains subject to enquiry in Tuticorin port on the southeast coast and Haldia on the east coast.
Rough weather is forecast in the Indian west coast port of Sikka between 18-19 July, which could impact bunkering.
Swells of more than a metre are predicted to hit the Sri Lankan port of Colombo between 18-19 July, which might disrupt bunker deliveries.
Middle East
All grades remain tight in Fujairah amid good demand. Lead times of 5-7 days are recommended – virtually unchanged from last week. However, some can supply all grades for prompt dates but these deliveries are subject to stem size.
Some suppliers can offer all grades at lead times of 5-7 days in the UAE port of Khor Fakkan.
The Omani ports of Duqm, Sohar, Salalah and Muscat have good availability of LSMGO, with prompt dates available.
Source: Engine
