Residual fuel oil stocks in Singapore averaged 8% lower in September than in August, data from Enterprise Singapore shows, according to Engine.
Changes In Stocks
Changes in monthly average Singapore stocks from August to September:
- Residual fuel oil stocks down 1.52 million bbls to 17.29 million bbls
- Middle distillate stocks down 920,000 bbls to 10.62 million bbls
Singapore’s fuel oil stocks dropped below 18 million bbls in September, despite a 28% increase in the port’s net fuel oil imports. Fuel oil imports fell by 202,000 bbls, a smaller decline compared to the 898,000 bbls drop in exports.
In September, most fuel oil shipments to Singapore came from the UAE (15%), India and Nigeria (9%). The majority of fuel oil exports went to China (71%), Malaysia (8%), and Thailand (7%).
Changes In Oil Trade
Changes in monthly average Singapore fuel oil trade from August to September:
- Fuel oil imports down 202,000 bbls to 4.85 million bbls
- Fuel oil exports down 898,000 bbls to 1.65 million bbls
- Fuel oil net imports up 695,000 bbls to 3.20 million bbls
Despite a steady bunker demand, prompt VLSFO availability in Singapore remains tight due to low stock levels and terminal loading delays faced by some suppliers. Several suppliers now advise lead times of over two weeks for this fuel grade.
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Source: Engine
