Fujairah’s fuel oil inventories averaged 11% lower in June than in May, Fujairah Oil Industry Zone (FOIZ) and S&P Global data shows.

Changes in monthly average Fujairah stocks from May to June:
• Heavy distillate and residual stocks down 1.33 million bbls to 10.35 million bbls
• Middle distillate stocks steady at 4 million bbls

Fujairah imported 217,000 b/d of fuel oil in June, down significantly by 84,000 b/d from May, according to cargo tracker Vortexa. In the same time frame, the port’s fuel oil exports increased by 77,000 b/d to 294,000 b/d. This has tilted its trade balance into net exports and contributed to draw stocks.

The bulk of Fujairah’s fuel oil imports came from Iran (29%) in June, followed by Iraq (27%) and Russia (17%). Meanwhile, more than half of its fuel oil exports departed for Singapore (54%), followed by China and Greece (7%).

Meanwhile, Fujairah’s middle distillate stocks remained steady at May levels.

Availability of bunker fuel grades remains tight in Fujairah amid good demand. Recommended lead times remain unchanged from last week at 5-7 days in the port. But some suppliers can offer all bunker fuel grades for prompt delivery dates depending on stem sizes, a source says.
Source: Engine (https://engine.online/news/availability/fujairahs-fuel-oil-inventories-decline-11-pc-in-june-4d2d)