Singapore’s fuel oil inventories increased by 4% in November

Residual fuel oil stocks in Singapore averaged 4% higher in November than in October, recent data from Enterprise Singapore shows.

Changes in monthly average Singapore stocks from October to November:

• Residual fuel oil stocks up 910,000 bbls to 25.04 million bbls
• Middle distillate stocks down 410,000 bbls to 9.06 million bbls

Singapore’s fuel oil stocks climbed above 25 million bbls in November, reaching their highest level since August. Both imports and exports fell during the month - imports were down by 764,000 bbls, and exports dropped by 778,000 bbls.

The largest share of incoming fuel oil cargoes came from the UAE and Russia (15%), followed by Brazil (13%), according to cargo tracker Vortexa. On the export side, most volumes were sent to China (51%), with smaller shipments heading to Malaysia (22%) and Indonesia (5%).

Singapore’s middle distillate inventories, meanwhile, averaged 4% below October levels.

Changes in monthly average Singapore fuel oil trade from October to November:

• Fuel oil imports down 764,000 bbls to 4.99 million bbls
• Fuel oil exports down 778,000 bbls to 1.95 million bbls
• Fuel oil net imports up 14,000 bbls to 3.04 million bbls

VLSFO lead times in Singapore remain inconsistent, stretching from about four days to as long as 11 days. HSFO now needs 3–9 days of notice, a slight improvement from last week’s 6–9 days.

LSMGO supply stays healthy, with lead times of 3–7 days compared with 2–8 days previously.

By Tuhin Roy

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