Singapore
Singapore has been witnessing “sluggish” demand so far this week. VLSFO supply continues to remain under pressure in the port, with lead times varying widely between 6-14 days. A source claims at least seven bunker suppliers are currently grappling with tight delivery schedules in the port. Lead times of 12-16 were advised for the grade last week.
Availability of HSFO has improved in the Southeast Asian bunker hub, with lead times coming down from more than 14 days last week to 7-9 days now. LSMGO supply remains good, with almost unchanged lead times of 3-5 days.
Singapore’s residual fuel oil stocks have come down slightly in the first week of December from November levels, according to Enterprise Singapore. The port’s net fuel oil imports have plunged 76% so far in December. Both fuel oil imports and exports have declined this month. Its fuel oil imports have slumped 57% so far this month, while its exports have dipped 2%.
The port’s middle distillate stocks, on the other hand, have averaged 11% lower so far this month than in November.
China, East Asia and Oceania
VLSFO availability has shown signs of improvement in Zhoushan, with most suppliers now recommending lead times of 5-7 days. This comes after the grade was subject to enquiry last week. Despite the improvement in supply, the demand for the grade remains low because of the high premiums quoted by some suppliers, making it unattractive for buyers to bunker them.
LSMGO and HSFO supply remain good in the Chinese bunker hub, with short lead times of 2-5 days.
Meanwhile, the northern Chinese port of Dalian has good availability of VLSFO and LSMGO. The nearby port of Tianjin also has a good supply of VLSFO, but the availability 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 continues to remain 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 subject to enquiry in the southeastern port of Fuzhou.
Yangpu port, on the other hand, has good availability of both grades.
All grades remain in ample supply in Hong Kong, with unchanged lead times of 5-7 days recommended. Bad weather is forecast in Hong Kong on Wednesday and Saturday, which might disrupt bunker deliveries at the port.
Strong winds and high waves are predicted to hit the South Korean ports of Ulsan, Onsan, Busan, Daesan, Taean and Yeosu intermittently between Tuesday and Sunday, which might hamper bunker deliveries at these ports.
Meanwhile, supply of all grades has improved in South Korean ports, with lead times coming down from 5-12 days last week to 3-9 days now.
Availability of all grades has improved in Japan’s Tokyo as well, with lead times of 7-10 days – down from 10-12 days last week.
Most suppliers in Japan will accept new bunker orders until 20 December, before the beginning of the Christmas and New Year holidays, the source adds.
Tropical cyclone Jasper, which is moving north-westwards toward Queensland coastline, Australia, is predicted to make landfall on Wednesday between Cooktown and Innisfail.
Port operations were suspended in Cape Flattery, Cairns and Mourilyan on Tuesday due to the cyclone, while terminals at the ports of Abbot Point and Hay Point ceased vessel operations, according to GAC Hot Port News.
Warning has been issued in areas between Cape Flattery to Townsville (not including Townsville), which includes the port of Palm Island. Authorities will also keep an eye on potential disruption around the area between Cape Melville to Cape Flattery.
Adverse weather conditions are also forecast in the Philippine port of Subic Bay between 13-15 December, and in the Kiwi port of Tauranga between 12-14 December, which may hamper bunkering operations.
South Asia
VLSFO and LSMGO supply remains good in Kandla on India’s northwest 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, Cochin, Visakhapatnam, Paradip and Haldia, with deliveries subject to availability in these ports. Bunker deliveries remain subject to enquiry in Tuticorin on the southeast coast as it has been in recent weeks.
Bad weather conditions are forecast in the Sri Lankan port of Colombo on Wednesday, which may impact bunkering.
Middle East
Prompt availability is tight for all grades in Fujairah because of the robust bunker demand in the port. Lead times of 7-10 days are recommended for all grades, while some suppliers are still able to offer the grades for prompt dates, a source says.
Most suppliers in the other UAE port of Khor Fakkan can deliver bunker stems by 15 December at the earliest, the source adds.
Source: ENGINE, By Tuhin Roy, https://engine.online/news