Fujairah’s fuel oil stocks drawn 15% coming into April

Fujairah’s residual fuel oil inventories have averaged 15% lower in the first week of April compared to March, according to the latest data from Fujairah Oil Industry Zone (FOIZ) and S&P Global.

Changes in monthly average Fujairah stocks from March to April (so far):

• Heavy distillate and residual stocks down 895,000 bbls to 4.91 million bbls
• Middle distillate stocks down 541,000 bbls to 1.48 million bbls

Heavy distillate and residual fuel oil inventories in Fujairah have fallen below 5 million bbls, marking multi-year lows.

The Middle Eastern bunker hub has recorded no fuel oil imports so far this month, compared with approximately 14,000 b/d in March, according to cargo tracking data from Vortexa.

Meanwhile, fuel oil exports from Fujairah have surged by 196,000 b/d to 270,000 b/d, pushing the port into a net export position. Singapore accounted for the largest share of exports (38%), followed by India (27%) and Malaysia (18%).

Middle distillate inventories in Fujairah have also declined, averaging 27% lower than last month’s levels.

Bunkering operations at the Port of Fujairah remain ongoing despite the regional crisis, although supply conditions are tight.

Bunkering is progressing, but prompt fuel availability remains tight "amid limited supply, strict scheduling, firm nominations, and possible delays in barge availability,” a Middle East-based trader said.

Most terminals and anchorages continue to operate either fully or partially without disruption. However, fuel availability across all grades in Fujairah remains constrained, with offers dependent on firm enquiries.

By Tuhin Roy

Please get in touch with comments or additional info to news@engine.online