June The Greatest Turmoil For FUJAIRAH Bunkers

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•Fujairah June prices rose 19% on month.

•Declines across board except for marine gasoil.

•Bunker sales also fell in Singapore.

Fujairah bunker sales in June declined 13% on the month on signs of higher prices curbing demand for the shipping fuel says an article published in S&P Global.

Total Downfall

Total volume dropped to 652,220 cu m from 750,777 cu m in May, with all types of the fuel oil down except for marine gasoil, according to data on the Fujairah Oil Industry Zone website.

The total was the lowest since February 2022 and was 2.9% lower than in June 2021.

Fujairah is the world’s third-biggest bunkering hub, after Singapore and Rotterdam.

Marine Gasoil

Fujairah delivered marine fuel 0.5% sulfur averaged $1,095.91/mt in June, up 19% from the May average of $921.47/mt, according to Platts assessments by S&P Global Commodity Insights.

Prices also averaged higher in Singapore, where bunker sales dropped 9% on the month in June, also partly because of high bunker prices.

Bunker Sales

Besides the high bunker prices, Fujairah bunker fuel sales also fell as some ships refueled at other nearby ports, such as Dammam and Ras Tanura in Saudi Arabia, because of congestion at Fujairah, traders said. Maintenance at the Uniper refinery in Fujairah also limited supplies, the trading sources added.

Fujairah Data

In Fujairah, LSFO 180 CST sales in June declined 18% on the month to 372 cu m, while LSFO 380 CST dropped 13% to 482,926 cu m.

Marine gasoil volumes climbed 18% to 1,287 cu m. HSFO 380 CST sales fell 14% to 132,690 cu m.

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Source: S&P Global

 

 

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