Singapore
A source says Singapore has been seeing “muted” demand so far this week. VLSFO continues to be under pressure in Singapore as several suppliers are facing tight delivery schedules. Terminals have been jammed by several tankers loading and discharging cargoes, which has held up bunker delivery vessels from loading, a source says. Lead times of around 11-13 days are recommended for VLSFO – almost unchanged from the end of last week.
HSFO is also under pressure in the Southeast Asian bunker hub, with some suppliers advising lead times stretching out to more than two weeks now – up from 11-13 days last week. LSMGO availability, on the other hand, is good, with short lead times of 2-3 days.
According to Enterprise Singapore, the port’s residual fuel oil stocks have averaged 6% lower so far this month than across October. Singapore’s net fuel oil imports have slumped 41% lower in November.
Singapore’s middle distillate stocks, however, have climbed 14% higher on the month.
China, East Asia and Oceania
A source says VLSFO availability has come under pressure in Zhoushan as several suppliers are running low on stocks. Most suppliers have been hesitant to offer and will only respond to bunker enquiries on a “case by case” basis. The grade required lead times of 5-10 days last week.
On the other hand, HSFO availability has improved in the Chinese bunkering hub, with lead times of 5-7 days recommended – down from 5-10 days last week. LSMGO remains readily available at the port.
Meanwhile, the northern Chinese port of Dalian has good supply of VLSFO and LSMGO. The nearby port of Tianjin also has good availability of VLSFO, but supply of LSMGO and HSFO remains under pressure and deliveries are subject to enquiry. Prompt availability of VLSFO and LSMGO remains tight in the other northern Chinese port of Qingdao, and HSFO remains subject to enquiry there.
Both grades remain tight for prompt supply in the southern Chinese ports of Shanghai and Xiamen. HSFO availability has persistently been under pressure in Shanghai, as it has been in recent weeks.
LSMGO supply is tight in Guangzhou, but VLSFO availability remains good there. Both grades remain under pressure in the southeastern port of Fuzhou, with deliveries subject to enquiry.
Yangpu port, on the other hand, has good availability of both the grades.
All grades remain in good supply in Hong Kong, with several suppliers recommending unchanged lead times of 5-7 days. Bad weather conditions are forecast in Hong Kong between Friday and Saturday, which might impact bunkering operations.
Strong winds and high waves are predicted to hit the South Korean ports of Busan, Ulsan, Onsan and Yeosu between 23-26 November, and Daesan and Taean between 22-25 November, which may disrupt bunker deliveries at these ports.
Availability of HSFO has improved in South Korean ports amid low demand, a source says. Several suppliers are advising lead times of around four days for the grade. Lead times of HSFO varied widely between 5-13 days last week.
VLSFO and LSMGO grades are in ample supply in South Korea, with lead times of around four days recommended – virtually unchanged from last week.
Adverse weather conditions are forecast in the Philippine port of Subic Bay between 25-26 November, in the Thai ports of Koh Sichang and Leam Chabang between 26-27 November, and in the Kiwi port of Tauranga between 24-25 November, which may affect bunkering.
South Asia
VLSFO and LSMGO supply remains good in Kandla on India’s northwest coast and Cochin on the southern coast, with some suppliers advising short lead times of 2-3 days.
Both grades remain in tight availability in several Indian ports including Mumbai, Chennai, Visakhapatnam, Paradip, Tuticorin and Haldia, with deliveries subject to availability in these ports.
Rough weather is forecast in the Indian port of Kochi on 23 November, which might impact bunkering operations.
Middle East
Availability of all grades remains “super tight” in Fujairah amid good demand, with unchanged lead times of 7-10 days advised. But some suppliers can still offer prompt deliveries for all grades, a trader says.
Lead times of around five days are needed for all bunker fuel grades in the nearby UAE port of Khor Fakkan.
Source: ENGINE, By Tuhin Roy, https://engine.online/news