Singapore
Demand has been average in Singapore so far this week. Securing VLSFO and HSFO stems in Singapore can be difficult. Lead times for VLSFO are 9-11 days – almost unchanged from last week, while lead times for HSFO have increased from last week’s 8-11 days to 8-14 days now.
LSMGO availability, on the other hand, has improved with lead times shortening from last week’s 6-8 days to 3-5 days.
Residual fuel oil stocks in Singapore averaged 19% lower in May than in April, data from Enterprise Singapore shows. The port’s net fuel imports plunged 24% lower in May, and to their lowest level since last August. Fuel oil imports and exports also fell by 20% and 14%, respectively, in May.
The port’s middle distillate stocks were also down, declining by 9% in May.
East Asia
Zhoushan continues to grapple with weak demand, a source says. Despite less bunkering, VLSFO supply has tightened in the Chinese bunkering hub as some suppliers are running low on stocks. Lead times for the grade have nearly doubled on the week, from 3-5 days to 5-7 days now.
HSFO lead times, on the other hand, have come down from last week’s 4-7 days to 3-5 days. LSMGO lead times remain steady at 3-5 days.
In Hong Kong, VLSFO and HSFO supply has come under pressure amid tight barge availability, a source says. Recommended lead times for both grades remain unchanged on the week at 7-10 days.
LSMGO is more readily available in the port, with a shorter lead time of 3-5 days.
Wind gusts of 19-21 knots and swells of close to a meter are forecast to hit Hong Kong on 12 June, which could disrupt bunkering operations.
Bad weather is also anticipated to disrupt bunker deliveries in the South Korean ports of Ulsan and Onsan between 10-11 June, Busan and Yeosu between 9-11 June, and Daesan and Taean between 8-11 June.
Meanwhile, VLSFO availability remains tight in South Korean ports, with lead times stretching to almost two weeks. LSMGO availability has improved significantly in South Korea. Some suppliers, who were offering the LSMGO with lead times of 10-14 days last week, can now supply for prompt delivery dates. HSFO requires lead times of 3-5 days – similar to last week.
Adverse weather conditions are also forecast in the Philippine port of Subic Bay between 12-13 June, the Thai ports of Koh Sichang and Leam Chabang between 11-13 June, and the Kiwi port of Tauranga between Tuesday and Thursday, which might hamper bunker deliveries.
South Asia
VLSFO and LSMGO can be delivered with around 2-3 days of lead time in several Indian ports, including Kandla on the northwest coast and Cochin and Chennai on the southern coast.
Availability of both grades is relatively tight in Mumbai, Visakhapatnam and Paradip and deliveries are subject to availability. Meanwhile, supply is subject to enquiry in Tuticorin port located on the southeast coast and Haldia on the east coast.
Bad weather is forecast between Wednesday and Saturday, which could disrupt bunkering in India’s west coast ports of Sikka and Kandla.
Rough weather is also forecast at the Sri Lankan port of Colombo on Wednesday and could disrupt bunkering.
Middle East
Bunker fuel supply across all grades is said to be normal in Fujairah, with lead times ranging between 5-7 days for all grades – virtually unchanged from last week. Some suppliers can offer prompt stems of all grades, but their availability depends on the stem size, a source says.
The other UAE port of Khor Fakkan also has unchanged lead times of 5-7 days across all grades.
Source: ENGINE, By Tuhin Roy, https://engine.online/news