Singapore
Demand has been very “bullish” in Singapore so far this week, a source says. VLSFO and HSFO availability has gotten tighter in the port. Lead times for VLSFO have gone up from 7-9 days to 8-10 days, and for HSFO from 5-9 days to 11-13 days.
On the other hand, LSMGO remains more readily available in Singapore, with prompt dates available.
Singapore’s residual fuel oil stocks have averaged 7% higher in the first two weeks of June than in May, according to Enterprise Singapore.
The port’s net fuel oil imports have surged by 34% over May levels, and to their highest so far this year. While the port’s fuel oil imports have risen by 22% and are at their highest level since June last year, the fuel oil exports have inched up by only 1%. This has comfortably tilted the port’s trade balance into net imports in support of stocks this month.
Meanwhile, the port’s middle distillate stocks have risen by 11% on the month.
East Asia and Oceania
A source says that availability across all grades remains good in Zhoushan amid weak demand. Short lead times of 2-5 days are recommended for all bunker fuel grades – virtually unchanged from last week. Some supplies can offer all grades for delivery on even more prompter dates depending on stem sizes, the source adds.
Hong Kong has seen average demand recently. Lead times for all grades have increased slightly in the port, from around seven days last week to 7-10 days now.
Meanwhile, VLSFO has been getting tight in some South Korean ports as several suppliers are low on stocks. Availability of the grade is now subject to enquiry, a source says.
Some suppliers that were offering LSMGO and HSFO for prompt delivery dates in South Korean ports last week are now offering both grades with slightly longer lead times of 3-7 days.
The South Korean ports of Ulsan, Onsan, Busan, Daesan, Taean and Yeosu are forecast to experience adverse weather conditions intermittently between 21-25 June, which could disrupt bunker deliveries.
Rough weather conditions are also forecast in the Kiwi port of Tauranga between 21-14 June, which might hamper bunker operations.
South Asia
India’s southern ports of Cochin and Chennai and western port of Kandla have good VLSFO and LSMGO availability, with short lead times of 2-3 days.
A source says that both grades remain quite tight in the Indian ports of Mumbai, Visakhapatnam and Paradip, as they have been in the recent weeks. Delivery dates are subject to availability. Meanwhile, bunker deliveries in Tuticorin on the southeast coast, and Haldia on the east coast, remain subject to enquiry, the source adds.
Several key west coast ports including Mundra, Sikka and Pipavav have restarted operations over the weekend after being suspended by cyclone Biparjoy last week.
However, bad weather is forecast in the Indian ports of Kandla and Sikka on 21 June and 25 June, respectively, which might disrupt bunker operations.
Middle East
Securing prompt stems for all grades can be difficult in Fujairah, with lead times of 5-7 days recommended – up from around 3-5 days last week. But some suppliers can still offer all grades on prompt dates depending on stem sizes, a source says.
Availability across grades remains normal in the nearby UAE port of Khor Fakkan, with lead times of 5-7 days recommended – almost unchanged from last week.
LSMGO remains is available in the Omani ports of Duqm, Sohar, Salalah and Muscat.
Source: ENGINE, By Tuhin Roy, https://engine.online/news