Fujairah bunker sales grew 2% in 2024 despite weaker VLSFO demand
Increased HSFO and LSMGO sales boosted Fujairah's total bunker sales by 2% in 2024, according to data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global Commodity Insights.
Changes in Fujairah bunker fuel sales from 2023 to 2024:
- Total sales up by 2% to 7.49 million mt
- VLSFO sales down by 4% to 5.06 million mt
- HSFO sales up by 17% to 2.11 million mt
- LSMGO sales up by 11% to 313,000 mt
HSFO sales increased by nearly 311,000 mt, reaching 2.11 million mt in 2024, driven by the addition of more scrubber-fitted vessels to the global fleet. 415 such vessels entered operation last year, bringing the total to 5,790, according to DNV data.
During the same period, LSMGO sales rose by 32,000 mt to 313,000 mt. In contrast, sales of the most in-demand product, VLSFO, declined by almost 203,000 mt, totaling 5.06 million mt in 2024.
Fuel grade share of total sales in 2024 (compared to 2023):
- 67% VLSFO 380cst (71%)
- 0.21% VLSFO 180cst (0.10%)
- 28% HSFO (24%)
- 4% LSMGO (4%)
- 0.03% of 0.50% MGO (0.16%)
By Tuhin Roy
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