Bunker fuel sales at the Middle Eastern hub of Fujairah, the world’s third-largest marine fuels location after Singapore and Rotterdam, dropped to the lowest level in four months in October, reports Ship And Bunker.
Drop in sales
Total sales excluding lubricants sank by 15.6% on the year to 655,126 m3 in October, according to the latest data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Commodity Insights.
The total was down by 1.9% from September’s level.
Singapore’s total sales lost less than 0.1% on the year in October, while gaining 7.1% from September’s level.
180 CST VLSFO sales in Fujairah gained 71.3% on the year to 984 m3, 380 CST VLSFO sank by 20.6% to 481,052 m3, HSFO jumped by 4.9% to 141,780 m3, MGO dropped by 40.7% to 1,164 m3 and LSMGO declined by 7% to 30,146 m3.
HSFO took a 21.6% share of the total market last month, up from 17.4% a year earlier.
Fujairah’s average VLSFO price in September was $712/mt, up by 1.1% on the month and by by 16.5% on the year, according to Ship & Bunker data.
Singapore’s average price was up by 4.8% from September’s level and by 19.5% from the level seen a year earlier. Ship & Bunker’s G20-VLSFO Index of average prices across 20 leading bunkering ports gained 1% on the month and 27.6% on the year to $750/mt in October.
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Source: Ship And Bunker
