Marine Fuel Sales Decline At UAE’s Fujairah In 2023

By
Mfame Editor
-
238

  • Fujairah’s marine fuel sales fell by 7.1% in 2023. 
  • Sales including LSFO and MGO, decreased.
  • Fujairah retained its status as the world’s third-largest bunker.

Fujairah’s marine fuel sales fell by 7.1% in 2023. The decline is attributed to increased war risks in the Middle East, leading to higher war insurance premiums, reports Reuters.

Competition from Khor Fakkan

Competitive pricing at Khor Fakkan port attracted some bunker demand, resulting in a rise in volumes.

Total Bunker Sales

Fujairah recorded 7,476,283 cubic meters (approx. 7.4 million metric tons) in bunker sales, excluding lubricants.

Low-Sulphur Marine Fuel

Sales, including LSFO and MGO, decreased by 12.4% to about 5.6 million tons in 2023.

High-Sulphur Fuel Oils (HSFO)

HSFO sales increased by 14.3% to 1.8 million tons, constituting 24% of Fujairah’s bunker market share in 2023.

Global Trends and Rankings

Higher demand for HSFO globally, as more scrubber-fitted vessels chose it as a cheaper alternative to LSFO.

Fujairah’s Global Position

Despite the decline, Fujairah retained its status as the world’s third-largest bunker hub, following Singapore and Rotterdam. However, the gap has narrowed with Zhoushan in China, which secured the fourth position with 7.04 million tons in 2023.

Did you subscribe to our daily newsletter?

It’s Free! Click here to Subscribe!

Source: Reuters