Singapore
A source says Singapore has been witnessing “average” demand so far this week. Several suppliers are recommending lead times of 8-10 days for VLSFO – almost unchanged from last week.
HSFO availability has tightened in the port, with lead times going up from 7-9 days last week to 10-12 days now. Lead times of LSMGO remain virtually unchanged at 3-7 days.
Singapore’s residual fuel oil stocks have averaged 11% lower so far in October than across September, according to Enterprise Singapore. The port’s net fuel oil imports have dipped by 1% so far this month. Meanwhile, both imports and exports are up this month. The port’s fuel imports have increased by 20%. Fuel oil exports have jumped 77% and to their highest level since January this year.
The Southeast Asian bunker hub’s middle distillate stocks, on the other hand, have averaged 4% higher so far this month than in September.
China, East Asia and Oceania
Some suppliers have almost run out of HSFO stocks in Zhoushan, but low demand for the grade has somewhat prevented the tightness from becoming too severe, a source says. Lead times of 3-5 days are recommended for the grade. VLSFO and LSMGO remain in good availability in the port, with suppliers advising very short lead times of 2-5 days – almost unchanged from last week.
Both grades remain in ample supply in the northern Chinese port of Dalian. The nearby port of Tianjin has good availability of VLSFO, but LSMGO and HSFO remain under pressure, and deliveries are subject to enquiry. Prompt VLSFO and LSMGO availability remains tight in the other northern Chinese port of Qingdao, while HSFO is subject to enquiry.
VLSFO and LSMGO prompt supply remains tight in the southern Chinese ports of Shanghai and Xiamen as well. HSFO supply has been under pressure in Shanghai as it has been in recent weeks.
Both VLSFO and LSMGO remain in tight availability in the southeastern port of Fuzhou, with deliveries subject to enquiry. On the other hand, the availability of both grades remains good in the ports of Guangzhou and Yangpu.
All grades remain in good availability in Hong Kong, as it has been in recent weeks. Lead times of 5-7 days are recommended for all bunker fuel grades in the port.
Strong wind gusts of 24-28 knots and swells of close to a metre are predicted to hit Hong Kong on Wednesday and Thursday, which might hamper bunker deliveries.
The South Korean ports of Ulsan, Onsan, Busan, Daesan, Taean and Yeosu face possible disruptions from strong winds and high waves from Friday to Sunday.
VLSFO availability has become tighter in South Korean ports, a source says. This is primarily due to a decrease in VLSFO imports and some suppliers selling out most of their stocks at the beginning of the month. As a result, most suppliers are running low on stocks, the source adds.
Lead times of VLSFO vary widely between 3-12 days – almost doubling from 4-6 days last week. LSMGO and HSFO lead times also vary widely between 3-12 days in South Korean ports.
Adverse weather conditions are predicted in the Vietnamese port of Hai Phong between 20-21 Oct, and the Kiwi port of Tauranga on Tuesday, which might impact bunkering operations at these ports.
South Asia
VLSFO and LSMGO availability remains good in Kandla on the northwest coast of India and Cochin on the southern coast, with a short lead time of 2-3 days recommended.
However, both grades remain very tight in the Indian ports of Mumbai, Visakhapatnam, Haldia and Paradip, with delivery dates mostly subject to availability, a source says. On the other hand, bunker deliveries remain subject to enquiry Tuticorin on the southeast coast.
Middle East
Prompt availability across all grades remains tight in Fujairah. Most suppliers recommend lead times of around 5-7 days. Some can still offer prompt dates depending on stem sizes, a source says.
Availability of all grades remains good in the other UAE port of Khor Fakkan, with lead times of 5-7 days.
Source: ENGINE, By Tuhin Roy (https://engine.online/news)