Bunker sales at the Middle Eastern hub of Fujairah, the world’s third-largest marine fuel supply location, lost 7.7% on the month in September while still rising on a yearly basis, reports Ship And Bunker.
The current trend
Total sales excluding lubricants sank by 7.7% on the year to 667,878 m3 in September, 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 5% from September 2021.
Singapore’s total sales lost 3.6% on a monthly basis in September, and slipped by 0.8% on a year-on-year basis.
180 CST VLSFO sales in Fujairah gained 100.3% on the year to 589 m3, 380 CST VLSFO rose by 4.2% to 508,277 m3, HSFO jumped by 8.2% to 128,515 m3, MGO dropped by 40.6% to 1,210 m3 and LSMGO advanced by 7.2% to 29,287 m3.
HSFO took a 19.2% share of the total market last month, up from 18.7% a year earlier.
Fujairah’s average VLSFO price in September was $707.50/mt, down by 15.3% on the month but up by 28.4% on the year, according to Ship & Bunker prices. Singapore’s average price was down by 11% on a monthly basis and up by 24.5% from September 2021, while Ship & Bunker’s G20 Index of average VLSFO prices at 20 leading bunkering ports lost 9.8% on the month and gained 32.4% on the year.
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Source: Ship And Bunker