Singapore
Bunker fuel availability remains tight across all grades in Singapore. VLSFO is particularly tight and prompt deliveries are difficult to find.
Prompt VLSFO deliveries in Singapore have recently been priced at least $100/mt higher than for dates further out, sources say. Recommended lead times are around 13-16 days for VLSFO and 9-12 days for HSFO, while LSMGO has a shorter 7-8 days.
The port has imported a lot more fuel oil in the past three weeks, and in the week to 8 June its imports rose to the highest point since mid-February this year.
According to cargo tracker Vortexa, the bulk of fuel oil imports have arrived from the UAE, Venezuela, Bahrain and Iran so far in June.
East Asia
VLSFO availability remains tight in Hong Kong and prompt stems are hard to book, sources say. LSMGO availability is slightly better and recommended lead times are up to seven days.
A supplier in Hong Kong expects VLSFO replenishment stocks to arrive by 25 June, a source says.
Bunker fuel availability is also tight in South Korean ports. A refinery that started offering some volumes to bunker ports at the beginning of this month has pulled back VLSFO offers again. This has sustained the pressure on other suppliers, sources say.
Recommended lead times for VLSFO and LSMGO are around 5-8 days in southern and western South Korean ports.
Bunker fuel demand in Zhoushan has been weak in the recent weeks amid tight availability and elevated prices. Tight VLSFO and HSFO availability in Zhoushan has forced some buyers to look for bunkers in Taiwanese and South Korean ports instead, sources say.
Recommended lead times for VLSFO are around seven days in Zhoushan. LSMGO has been more readily available, while HSFO is tight as only some suppliers can offer the grade, sources say.
In the Philippines’ Manila, LSMGO availability is normal and recommended lead times are around three days. Demand has been sluggish in the past few weeks, a source says.
South Asia
Bunker fuel availability in India’s Mumbai is normal. Prompt VLSFO and LSMGO stems are available with some suppliers in Mumbai, depending on weather conditions. The weather is expected to remain erratic over the coming weeks as the monsoon season intensifies. This could result in bunker delays or suspensions.
In Sri Lanka’s Colombo, availability is tight across all grades. Recommended lead times for VLSFO and LSMGO are around 5-7 days. Some suppliers are facing difficulties in sourcing cargoes from Fujairah amid tight availability there, a trader says.
VLSFO and LSMGO availability is slightly tight in Bangladesh’s Chittagong, a source says.
Middle East
All fuel grades are in tight availability for prompt dates in Fujairah. Some suppliers are fully booked until 29 June. A supplier can offer some prompt volumes, but these are priced at least $50-60/mt higher than for dates further out, sources say.
Recommended lead times for VLSFO and LSMGO are up to two weeks.
Suppliers in the Omani ports of Duqm and Sohar have normal availability of LSMGO. A supplier can offer prompt deliveries, a source says.
Source: ENGINE (https://engine.online/)