Spot markets ease; Kuwait VLSFO cargo eyed for late March
Spot fuel oil markets retreated on Thursday, while Kuwait’s Al Zour offered a cargo of very low sulphur fuel oil (VLSFO) for loading in late March, trade sources said.
The refiner this week offered 120,000 tons of VLSFO for loading between March 25 and 26.
It was not immediately clear if the cargo will head to Asia or remain in the Middle East.
Singapore’s VLSFO market has been under downward pressure this month due to weak refuelling demand and ample incoming supplies. Spot cash differentials remained in discounts on Thursday.
Meanwhile, the rally in spot 380-cst high sulphur fuel oil (HSFO) pared slightly after intermonth spreads sold off in the derivative markets in the day, sources said.
However, the strength in HSFO is still expected to largely hold for the rest of this month despite an influx in supply, some sources said.
Latest inventory data at Singapore showed higher inflows of fuel oil from Russia, Iraq and the United Arab Emirates. Strong HSFO prices have drawn more cargoes over from these countries.
Separately, Taiwan’s CPC offered catalyst fractionator bottom fuel for loading between March 28 and April 1.
INVENTORY DATA
– Singapore onshore fuel oil stockpiles (STKRS-SIN) were at 17.29 million barrels (2.82 million tons) in the week to March 12, rebounding following a sharp draw last week, Enterprise Singapore data showed.
OTHER NEWS
– Oil prices were largely steady on Thursday after surging in the previous session on a larger-than-expected draw in U.S. gasoline stocks, as markets weighed macroeconomic concerns against firm near-term demand expectations.
– Saudi crude oil supply to top buyer China is set to fall to 34 million barrels in April, trade sources said on Thursday.
– Most of the jet fuel onboard the U.S.-flagged tanker Stena Immaculate that was hit by a container ship in a collision off Britain’s coast remains contained and only two of the vessel’s 18 fuel tanks have leaked, owner Stena Bulk said on Wednesday.
– Global oil supply could exceed demand by around 600,000 barrels per day this year, the International Energy Agency said in a monthly oil market report on Thursday, after a downward revision to its 2025 demand growth forecast.
WINDOW TRADES
– 180-cst HSFO: No trade
– 380-cst HSFO: One trade
– 0.5% VLSFO: No trade
Source: Reuters
Related News.
OL Shipping Group in Tokyo: Capt. Eberhard Koch calls for realistic solutions to Maritime Decarbonisation
An intensive and engaging couple of days in Tokyo brought together leading figures from the international maritime community, providing a valuable…
Regatta for Peace one of the largest ever in Cyprus
Cyprus will host the first European stop on a global sailing journey leading up to the 2027 America’s Cup in Naples. More than 120 sailors…
The propulsion technology powering the marine energy transition
The marine industry is under increasing pressure to future-proof fleets, balancing the need to reduce emissions and improve efficiency. Propulsion…
Signal Ocean acquires Lgmar
Signal Ocean announced the acquisition of Lgmar, the Athens-based company behind Telix, a maritime email and communication platform in daily use…
Canada clean power push challenged by interprovincial grid limits, says GlobalData
Canada is entering a pivotal phase of power-sector expansion as federal tax credits, the phase-out of coal-fired generation, and accelerating…
Maritime safety depends on human factors and leadership, not procedures alone
Interim survey findings point to a gap between seafarers’ perceptions of risk and injury data Seafarers may misjudge when and where they are most at…
New BIMCO contracts tackle ship recycling and energy-saving retrofits
BIMCO adopted two new contractual solutions designed to help you manage important operational and regulatory challenges: the revised…
Stena Line to acquire vessel and make changes to its network
Stena Line has reached an agreement to acquire the RoRo vessel Somerset from CLdN. Subject to closure and transfer, the vessel would begin operating…
DORIC WEEKLY INSIGHT 16 OCTOBER 2026
Please find below the DORIC Market Insight for the week ending 16th October 2026. Weekly Report 16.10.2026
Important information for port clients and freight carriers effective November 1, a new traffic overpass and port checkpoint will open for traffic to the Port of Riga on Kundziņsala
Starting November 1 of this year, a new traffic overpass connecting Tvaika Street to Kundziņsala will open to facilitate traffic to and from the Port…
Subscribe to our newsletter!
if you dont want to swim alone in the ocean of news, sign up for the newsletter, and you will receive daily all the important news of world shipping!
