- Sales drop 8.3% from April
- LSFO grade down 8.2%
- HSFO declines 13%
Ship bunker sales at the UAE port of Fujairah saw a notable decline in May, hitting a three-month low amid fluctuating regional demand and competitive pressure, reports Platts.
Ship bunker sales drop
According to the latest data, total bunker sales for the month dropped to 596,000 cubic meters, down 12.7% from April’s 683,000 cu m.
The decline was primarily driven by lower demand for marine fuel 380 CST, which remains the dominant bunker fuel at Fujairah. Sales of 380 CST dropped 15.6% on the month to 446,000 cu m in May. Meanwhile, sales of marine gasoil and low sulfur fuel oil (LSFO) also saw marginal declines.
Market participants noted that shipping activity in the Middle East was impacted by geopolitical uncertainties and ongoing disruptions in the Red Sea region, which may have contributed to the slump. Additionally, growing competition from alternative regional ports, including those in Oman, is putting pressure on Fujairah’s bunker volumes.
Despite the drop, some traders remain cautiously optimistic, pointing to a potential rebound in demand during the second half of the year if shipping activity stabilizes and freight markets improve.
Fujairah remains one of the top three global bunkering hubs, alongside Singapore and Rotterdam, and is seen as a barometer for regional maritime fuel trends.
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Source: Platts
