Singapore
VLSFO availability remains very tight in Singapore. Recommended lead times for the grade range up to 15-18 days. Some suppliers can deliver the grade with shorter lead times, but these offers are limited and often priced higher, a source says.
Product loading delays persist in oil terminals, which have held up bunker delivery vessels from loading. Terminals have been jammed by several tankers loading and discharging cargoes. Some argue that loading delays have eased a bit, however, loading remains jammed for near dates.
At least six bunker suppliers in Singapore are currently facing tight delivery schedules, a source claims.
Prompt HSFO supply also remains under pressure there. Lead times of 11-13 days are recommended for the grade. LSMGO availability is relatively better than other grades in Singapore, with lead times of 4-6 days recommended for smaller stems and around seven days for larger stems, a source says.
According to Enterprise Singapore, the port’s residual fuel oil stocks have averaged 2% lower so far this month than across October. Fuel oil imports have declined by 30% this month, while exports have dropped by 6% so far this month.
The port’s middle distillate stocks, however, have surged 15% on the month.
China, East Asia and Oceania
A trader says VLSFO availability is still tight in Zhoushan as several suppliers are running low on stocks. Most suppliers have refrained from providing lead times and deliveries of the grade remain subject to enquiries. HSFO availability, on the other hand, has improved in the port, with lead times reducing from 5-7 days last week to 3-5 days now. LSMGO remains in good supply, with prompt dates available.
In northern China, VLSFO and LSMGO supply is good in Dalian. In Tianjin, VLSFO availability is good, but LSMGO and HSFO supply is tight, with deliveries subject to enquiries. In Qingdao, prompt VLSFO and LSMGO availability is limited, and HSFO availability is also subject to enquiry.
Prompt availability of VLSFO and LSMGO is tight in the southern Chinese ports of Shanghai and Xiamen. HSFO availability is under pressure in Shanghai, as it has been in recent weeks.
Prompt bunker fuel availability has shown signs of tightness in Hong Kong, a trader says. Wind gusts of up to 20 knots are forecast on Tuesday and Wednesday, which could impact bunkering in the port.
Lead times for HSFO deliveries varied widely between 5-13 days in South Korean ports. VLSFO and LSMGO lead times have gone up from four days in the previous week to 5-6 days now.
Availability of all grades is normal in the Japanese port of Tokyo. Lead times of seven days are recommended for deliveries there.
Adverse weather conditions are forecast in the Philippine port of Subic Bay between 28-30 November, and in the Thai ports of Koh Sichang and Leam Chabang between 2-3 December.
South Asia
Prompt VLSFO and HSFO availability is tight in the Sri Lankan port of Colombo. The earliest delivery date with a supplier for HSFO is as far away as 10 December, a trader says. LSMGO availability is relatively better for prompt dates.
Middle East
All grades remain under pressure in Fujairah. The supply pressure is due to product loading delays at oil terminals, compounded by bunker backlogs caused by weather disruption over the weekend, a source explains. Strong bunker demand has also contributed to tight supply there.
Lead times of around 7-10 days are recommended for all grades in the Middle Eastern bunker hub – virtually unchanged from last week. Meanwhile, lead times of around five days are recommended for all grades at nearby Khor Fakkan port.
Source: ENGINE, By Nithin Chandran, https://engine.online/news