Marine bunker fuel sales at Fujairah port in the United Arab Emirates have rebounded to five-month highs in January, reflecting increased refuelling demand globally. This surge follows recent events in the Red Sea, prompting vessels to reroute around Africa to avoid potential threats.
Recovery in Bunker Fuel Sales
Sales of marine bunker fuel at Fujairah port reached 674,632 cubic meters in January, marking a 6.6% increase from the same period last year. This growth is attributed to heightened demand as ships seek competitive fuel prices amid changing maritime routes.
Shifts in Fuel Preference
High-sulfur bunker sales experienced a significant rise of 23.8% from December, while low-sulfur bunker sales decreased by 4.8%. This shift has altered the market share, with high-sulfur bunkers increasing to 31% and low-sulfur bunkers decreasing to 69%.
Implications for the Bunker Market
The rebound in bunker fuel sales at Fujairah port indicates a recovery in global refuelling activity, driven by geopolitical events and changing maritime dynamics. The shift in fuel preference underscores the ongoing adjustments in the bunker market as vessels adapt to regulatory and operational considerations.
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Source: Yahoo!finance
