Singapore
Steady demand for VLSFO in Singapore coupled with limited supply has contributed to tighten the grade’s availability in the port. Recommended lead times now stretch to around two weeks.
Recommended lead times for LSMGO, on the other hand, have come down from 10-12 days last week to 4-5 days now. Availability of HSFO remains tight, with lead times stretching to 9-13 days.
Singapore’s residual fuel oil stocks have remained steady with prior-month levels in December, despite a 7% decline in fuel oil imports, according to Enterprise Singapore. Fuel oil exports have risen by 14% so far this month, and the port’s net imports have dropped.
Meanwhile, middle distillate stocks in Singapore have averaged 2% lower so far in December than in November.
East Asia
Bunker operations had resumed at all four anchorages of Zhoushan by Tuesday morning, following weather-suspensions since Thursday last week, according to White Whale Shipping Agency.
Lead times of 3-5 days are recommended for VLSFO in Zhoushan. The Chinese bunkering hub has been witnessing an uptick in demand this week compared to the last week, a source says.
Availability of LSMGO has been getting tighter in Zhoushan as several suppliers are out of stocks and replenishment cargoes have been delayed until 19 December, a source says. LSMGO availability is subject to enquiry now.
HSFO is still tight in Zhoushan, with availability subject to enquiry, as most suppliers are sold out.
Availability of VLSFO remains steady in Hong Kong with lead times of around seven days. Demand for the grade remains good in Hong Kong’s bunker market, a source says.
Meanwhile, availability of VLSFO is getting very tight in South Korean ports as most suppliers are out of stocks. Recommended lead times for VLSFO in these ports are almost two weeks ahead in time now. Replenishment cargoes are expected to arrive towards the end of December, which is likely to alleviate the situation, a source says. Some suppliers can offer prompt deliveries of the grade, but these are usually at premiums.
Recommended lead times for LSMGO in South Korean ports are around 10 days, and about 9-10 days are needed for HSFO.
Weather-related disruptions may impact bunker operations in the South Korean ports of Ulsan, Onsan, Daesan, Taean and Yeosu in the coming week, a source says.
South Asia
VLSFO and LSMGO availability remains normal in India’s Mumbai, with lead times of around two days. HSFO is subject to barge availability, which is more limited than for the low sulphur grades.
Prompt delivery dates are available for both VLSFO and LSMGO in Mundra on India’s northwest coast. Lead times are short for both grades, at 1-2 days. Availability across all grades remains good in the Sri Lankan port of Colombo, with short lead times of four days.
Middle East
Fujairah has been experiencing a demand surge since late last week as tightness in the VLSFO market has triggered some panic buying. Some sources argue that a slowdown in VLSFO production from a major refinery has contributed to the tightness of the grade.
Recommended lead times in the UAE port are 7-9 days, but some suppliers can supply prompter stems that are typically priced higher.
LSMGO in Fujairah requires lead times of around nine days, and about nine days are needed for HSFO.
Availability of prompt dates for both VLSFO and LSMGO remains good in Oman’s Sohar. Meanwhile, Duqm has almost run out of VLSFO.
Source: ENGINE (By Tuhin Roy), https://engine.online/