Singapore
Singapore has seen “quiet” demand so far this week, a trader says. VLSFO has been persistently tight in the Southeast Asian bunker hub as some suppliers are facing tight delivery schedules. A source explains this is because terminal loadings have been jammed as there are several tankers loading and discharging cargoes. Lead times for the grade have gone up from 10-12 days to more than two weeks now.
Similarly, HSFO availability also remains tight at the port, with most suppliers now recommending lead times of more than two weeks – up from 10-12 days last week. LSMGO, on the other hand, remains in ample supply, with short lead times of 3-5 days.
Singapore’s residual fuel oil stocks have averaged 2% lower so far this month compared to October, according to Enterprise Singapore. The Southeast Asian bunker hub’s net fuel oil imports have plunged 68% and are at their lowest level since the beginning of this year. While Singapore’s fuel oil imports have dropped 40% so far this month, its exports have surged 35%.
The port’s middle distillate stocks, on the other hand, have risen 14% on the month.
China, East Asia and Oceania
Weather-induced disruptions and delayed replenishment of cargoes have kept prompt availability of all grades under pressure in Zhoushan. Meanwhile, bunker demand has shown signs of improvement in the Chinese bunkering hub, a trader says. This has contributed to further tighten bunker fuel availability in the port.
Most suppliers in Zhoushan are recommending lead times of 5-7 days for VLSFO and HSFO – almost unchanged from last week. LSMGO lead times have gone up from 3-5 days to 4-7 days now.
Bunker deliveries resumed at Zhoushan’s Tiaozhoumen and Xiazhimen outer anchorages on Tuesday after being suspended by bad weather last week. Four anchorages in the Chinese bunkering hub are operational now, a source says.
Meanwhile, the northern Chinese port of Dalian has good availability of VLSFO and LSMGO. Availability of VLSFO remains good in the nearby port of Tianjin as well, but LSMGO and HSFO remain under pressure, and deliveries are subject to enquiry. HSFO remains subject to enquiry in the other northern Chinese port of Qingdao, and prompt availability of VLSFO and LSMGO is tight there.
Prompt supply of both grades remains tight in the southern Chinese ports of Shanghai and Xiamen. HSFO continues to remain under pressure in Shanghai, with deliveries subject to enquiry.
Guangzhou port has good availability of VLSFO, but LSMGO supply remains under pressure, with several suppliers recommending lead times of 5-7 days. Availability of both grades remains subject to enquiry in the southeastern port of Fuzhou.
On the other hand, both grades remain in good supply in the Chinese port of Yangpu.
Availability of all bunker fuel grades remains good in Hong Kong as it has been in recent weeks. Most suppliers are advising lead times of 5-7 days for all grades.
Strong wind gusts of 22-34 knots and swells of more than a metre are forecast in Hong Kong between Thursday and Friday, which could hamper bunkering in the port.
Strong winds and high waves are predicted to hit the southern South Korean ports of Busan, Ulsan, Onsan, Daesan, Taean and Yeosu from Friday, which may impact bunker operations until Sunday.
Availability of VLSFO and LSMGO has improved in South Korean ports amid “extremely quiet” bunker demand, a trader says. Most suppliers are recommending lead times of 2-4 days for both grades – down from 5-8 days last week. Availability HSFO, on the other hand, continues to remain tight in South Korea, with lead times of 5-13 days advised – virtually unchanged from last week.
Adverse weather conditions are also predicted in the Philippine port of Subic Bay between 14-16 November, in the Thai ports of Koh Sichang and Leam Chabang between 16-18 November, and the Vietnamese port of Hai Phong on 16 November, which might disrupt bunker deliveries in these ports.
Meanwhile, port operations have resumed fully at the Australian ports of Brisbane, Fremantle, Melbourne & Sydney on Monday, after being suspended for three days due to a cyber security incident, according to GAC Hot Port News.
South Asia
Availability of VLSFO and LSMGO remains good in Kandla on India’s northwest coast and Cochin on the southern coast, with several suppliers advising short lead times of 2-3 days.
On the other hand, the Indian ports of Mumbai, Visakhapatnam, Haldia and Paradip have tight availability of both grades, with deliveries subject to availability. Bunker deliveries remain subject to enquiry in Tuticorin on the southeast coast as it has been in recent weeks.
Bad weather is forecast in the southern Indian port of Visakhapatnam on Wednesday, which might hamper bunker operations.
Middle East
Availability of all grades has tightened in Fujairah amid strong bunker demand, with lead times going up from 5-7 days last week to 7-10 days now.
The Omani ports of Duqm, Sohar, Salalah and Muscat have good availability of LSMGO, with prompt supply available.
Source: ENGINE, By Tuhin Roy, https://engine.online/news