Bunker fuel sales at the Middle Eastern hub of Fujairah climbed on both a yearly and monthly basis in January, rising to the highest level in five months.
Higher sales in January
Total sales excluding lubricants reached 674,632 m3 in January, according to the latest data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Commodity Insights. The total was up by 6% from a year earlier, by 2.4% from December’s level and the most since August.January’s sales were 8.2% higher than the average seen over the previous 12 months.
Singapore, the world’s largest marine fuels hub, saw conventional and biofuel bunker sales advance by 11.9% on the year but lost 2.9% on the month in January.
In January, Singapore’s VLSFO price averaged $617 per metric ton, which was slightly higher than December’s price but lower than a year ago.
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Source : Port news
