- Gains in all but 180 CST low sulfur grade
- Fujairah is third-biggest bunkering hub
- LSFO bunker premiums also gain during March
Ship fuel sales at the UAE’s Port of Fujairah, the world’s third-largest bunkering hub, climbed 11% on the month to the highest since August 2022, reports Platts citing port data published April 15.
Bunker sales jump to highest
The total was 706,089 cu m, up from 637,856 cu m in February, according to the data from the port’s Fujairah Oil Industry Zone. Sales of 380 CST low sulfur fuel oil, the biggest ship fuel by volume, rose 14% on the month to 463,245 cu m. The only category to show a decline was low sulfur fuel oil 180 CST, down 7.6% on the month to 924 cu m.
Singapore is the world’s largest ship fuel hub followed by Rotterdam.
Traders said more tankers had been calling at Fujairah for refueling on voyages to Europe and the US via Africa instead of the Red Sea due to recent ship attacks from Iran-backed Houthi forces in Yemen. Kuwaiti shipments from the country’s new Al Zour refinery have also kept the hub well-stocked, putting a lid on premiums and thus spurring demand, they said. The port’s ship fuel supplies were replenished in March, they said.
The Platts Fujairah-delivered marine fuel 0.5% sulfur bunker premiums against FOB Singapore marine fuel 0.5% sulfur cargo values averaged $16.55/mt across March, up from $13.12/mt in February, S&P Global Commodity Insights data showed. They have averaged $14.27/mt so far this month through April 15.
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Source: Platts
