Singapore’s fuel oil stocks rose by 4% in March
Residual fuel oil stocks in Singapore averaged 4% higher in March than in February, recent data from Enterprise Singapore shows.
Changes in monthly average Singapore stocks from February to March:
- Residual fuel oil stocks up 880,000 bbls to 23.89 million bbls
- Middle distillate stocks down 190,000 bbls to 8.28 million bbls
Fuel oil inventories in Singapore rose above 23 million bbls in March, amid a 45% increase in the port’s net fuel oil imports. Imports jumped by 1.12 million bbls, while exports declined by about 349,000 bbls.
The largest share of incoming cargoes originated from Russia (25%), followed by Brazil (13%) and the UAE (13%), according to cargo tracker Vortexa. On the export side, most volumes were shipped to China (32%), with smaller quantities heading to Malaysia (13%) and South Korea (12%).
Meanwhile, Singapore’s middle distillate inventories averaged 2% below February levels.
Changes in monthly average Singapore fuel oil trade from February to March:
- Fuel oil imports up 1.12 million bbls to 6.75 million bbls
- Fuel oil exports down 349,000 bbls to 2.03 million bbls
- Fuel oil net imports up 1.47 million bbls to 4.73 million bbls
Securing prompt supply of VLSFO remains difficult in Singapore, with lead times extending to 10–12 days from 8–11 days last week. HSFO availability remains tight, with lead times now in the 9–13 day range, compared with 9–16 days previously.
Meanwhile, LSMGO lead times have eased slightly to around 5–8 days, from 5–12 days last week.
By Tuhin Roy
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