East of Suez Fuel Availability Outlook 10 Nov

All grades very tight for prompt dates in Singapore

VLSFO availability very tight in Hong Kong

Tight supply across grades in Fujairah

IMAGE: A bulk carrier cargo hold-hatch cover showing a bunker vessel secured alongside to supply fuel at sea. Getty Images

Singapore and Malaysia

Bunker supply in Singapore is very tight for prompt dates across all three grades. VLSFO is very tight further out as well, while HSFO and LSMGO are tight.

Suppliers recommend 13-17 days' notice for VLSFO, up from 13-15 days last week, and 12-16 days for HSFO. LSMGO lead times have eased slightly to 7-10 days. The shortest lead times have crept up since late September, when VLSFO and HSFO could be booked 10 days ahead and LSMGO in around five days.

Onshore residual fuel oil stocks averaged 18.56 million bbls in October, against 24.13 million bbls a year earlier, according to Enterprise Singapore data. That is despite higher net fuel oil imports than a year ago: 3.80 million bbls in October, against 3.03 million bbls.

In the first week of November, stocks edged up to 19.14 million bbls. Venezuela (20%), Russia (15%) and Kuwait (14%) have supplied the most fuel oil so far this month, according to cargo tracker Vortexa.

Port Klang in Malaysia has limited HSFO available. LSMGO and prompt VLSFO are tight.

East Asia

Hong Kong's lead times hold at around seven days for all three grades, but supply is tight for HSFO and LSMGO, and very tight for VLSFO.

At South Korea's southern ports, including Busan, Masan, Ulsan, Onsan, Yeosu and Gwangyang, LSMGO can be delivered within 2-5 days, against 4-9 days for all grades last week. VLSFO needs 3-9 days while HSFO, six days.

At the western ports of Incheon, Daesan, Dangjin, Pyeongtaek and Taean, VLSFO and LSMGO are tight, with seven days' notice advised. HSFO is available only on enquiry.

Middle East

Supply in Fujairah is tight across all three grades, for prompt dates and further out.

Fuel oil stocks there held at about 4.5 million bbls in September and October, after swinging between 3.45 million and 5.54 million bbls over the summer, according to Fujairah Oil Industry Zone (FOIZ) and S&P Global data.

Fujairah has exported more fuel oil than it imported every month since June, and Singapore took 46% of its exports in October, according to cargo tracker Vortexa.

By Erik Hoffmann

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