Singapore
Singapore has witnessed average bunker demand so far this week. VLSFO availability remains tight in Singapore, with lead times of 8-11 days advised. A source says that some suppliers have extended their delivery lead times for the grade due to term contract commitments, which has pushed the lead times up.
Meanwhile, lead times of 6-9 days and 3-5 days are recommended for HSFO and LSMGO at the Southeast Asian bunkering hub – virtually unchanged from last week.
Residual fuel oil stocks in Singapore averaged 3% lower in September compared to August, data from Enterprise Singapore shows. Net fuel oil imports to Singapore surged 17% in September. While imports rose 12%, exports dipped 2%.
The Southeast Asian bunker hub’s middle distillate stocks, on the other hand, climbed 18% higher in September than in August.
China, East Asia and Oceania
Bunkering remains muted in Zhoushan due to the Mid-Autumn Festival and National Day holidays observed from 29 September to 8 October in the country.
A source says that most suppliers will resume bunker deliveries in the Chinese bunkering hub starting on Monday after the holiday period. Lead times of up to 14 days were recommended for all grades in the past week.
Meanwhile, the northern Chinese port of Dalian has a good supply of VLSFO and HSFO. The nearby port of Tianjin also has good availability of VLSFO, but LSMGO and HSFO remain under pressure, and deliveries are subject to enquiry. HSFO is subject to enquiry in another northern Chinese port of Qingdao, but there is ample supply of VLSFO and LSMGO.
Availability of both grades remains good in the southern Chinese ports of Shanghai and Xiamen as well. HSFO supply remains tight in Shanghai. Meanwhile, the prompt availability of VLSFO and LSMGO remains under pressure in Yangpu.
Supply of both grades remain subject to enquiry in the Chinese ports of Fuzhou and Guangzhou.
Availability of all grades remains good in Hong Kong, with unchanged lead times of 5-7 days. Strong wind gusts of 20-22 knots and swells of close to a metre are forecast to hit Hong Kong between 6-7 October, which may disrupt bunker deliveries.
Rough weather conditions are predicted in the South Korean ports of Ulsan, Onsan, Busan and Yeosu between 5-8 October, and in Daesan and Taean between 4-6 October, which might hamper bunker operations at these ports.
Availability for VLSFO and LSMGO has improved in South Korea, with lead times coming down from 5-11 days last week to 3-9 days now. HSFO requires lead times of 3-9 days as well. A source says that one supplier can offer all grades for prompter dates, but these stems are typically priced at a steep premium.
Adverse weather conditions are also forecast in the Kiwi port of Tauranga between 9-10 October, which may impact bunkering.
South Asia
The Indian ports, including Kandla on the northwest coast, and Cochin on the southern coast, have good availability of VLSFO and LSMGO, with some suppliers advising short lead times of around 2-3 days.
Meanwhile, supply of both grades remains under pressure in the Indian ports of Mumbai and Visakhapatnam, where deliveries are subject to availability. In Tuticorin, both grades remain subject to enquiry as it has been in recent weeks.
A supplier says that the port of Chennai on the southern coast, and Haldia and Paradip on the eastern coast of India are almost out of stock for both grades.
The Sri Lankan port of Colombo has good avails of VLSFO and LSMGO, a source says.
Middle East
Prompt availability remains “super tight” across all grades in the UAE port amid good demand. Several suppliers are recommending lead times of 5-7 days. Some suppliers can still offer prompt dates for all grades depending on stem sizes, a source says.
All grades remain in ample availability in the other UAE port of Khor Fakkan, with lead times of 5-7 days – virtually unchanged from last week.
LSMGO remains readily available in the Omani ports of Duqm, Sohar, Salalah and Muscat, with prompt supply possible.
Source: ENGINE, By Tuhin Roy, https://engine.online/news