Fujairah, a key bunkering hub, witnessed notable growth in bunker sales in 2024. The increase in sales of various fuel grades contributed to the uptrend, as reported by Fujairah Oil Industry Zone (FOIZ) and S&P Global Commodity Insights.
Surge in VLSFO Sales
Sales of Very Low-Sulfur Fuel Oil (VLSFO) experienced a significant surge, reaching their highest level since December 2022. This increase reflects a growing demand for cleaner fuel alternatives, with daily sales surpassing previous months.
Steady Rise in HSFO and LSMGO Sales
Despite the shift towards cleaner fuels, High-Sulfur Fuel Oil (HSFO) and Low-Sulfur Marine Gas Oil (LSMGO) also witnessed steady growth in sales. This indicates a continued demand for a diverse range of bunker fuels in the maritime industry.
Overall Sales Performance
The overall bunker sales in Fujairah for March 2024 saw an 11% increase compared to the previous month. This growth trend aligns with a 13% rise in total bunker sales for the first three months of the year, highlighting the resilience and adaptability of the bunkering sector amidst changing market dynamics.
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Source: ENGINE
