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Sales volumes at the worlds third-largest bunker port, excluding lubricants, totalled 614,929 cubic metres (about 609,000 metric tons) in September, showed Fujairah Oil Industry Zone data
SINGAPORE: Marine fuel sales at the United Arab Emirates Fujairah dipped to a three-month low in September, latest data showed, largely led by a sharp drop in high-sulphur marine fuel volumes.
Sales volumes at the worlds third-largest bunker port, excluding lubricants, totalled 614,929 cubic metres (about 609,000 metric tons) in September, showed Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights.
Some cargo-loading delays slowed overall bunker lifting activities last month, market sources said. The sales volume was down 6.3% from August and 2.2% from September last year.
High-sulphur fuel sales fell 21.9% month-on-month to about 146,000 cubic metres, while total low-sulphur bunker sales including residual fuels and marine gasoils were little changed at 469,000 cubic metres.
The weaker high-sulphur sales emerged amid a narrower Hi-5 spread , which is the premium of VLSFO over 380-cst high sulphur fuel.
From more than $180 a ton in early September, the spread narrowed to less than $135 into mid-September, before steadying between $140 and $150 into late-September, based on LSEGs prompt-month data.
The market share of low-sulphur bunkers widened to 76% in September, while that of high-sulphur bunkers narrowed to 24%.
Fujairah bunker sales by month, in cubic metres, excluding lubricants:
Month
Total Sales
M-o-M
Y-o-Y
Jan-24
674,632
2.4%
6.6%
Feb-24
633,436
-6.1%
10.7%
Mar-24
700,918
10.7%
25.2%
Apr-24
638,960
-8.8%
7.1%
May-24
615,462
-3.7%
-0.8%
Jun-24
610,765
-0.8%
0.9%
Jul-24
621,679
1.8%
-5.7%
Aug-24
656,034
5.5%
-3.2%
Sep-24 *
614,929
-6.3%
-2.2%
Monthly bunker sales by grade, in cubic metres:
Month
180cst LSFO
380cst LSFO
380cst HSFO
MGO
LSMGO
Lubricants
Jan-24
341
436,604
207,124
122
30,441
4,372
Feb-24
1,000
407,799
192,753
210
31,674
4,420
Mar-24
924
463,245
198,273
321
38,155
5,171
Apr-24
742
434,918
171,841
634
30,825
3,734
May-24
464
422,659
163,893
61
28,385
4,592
Jun-24
1,088
428,138
149,951
216
31,372
4,792
Jul-24
1,411
411,366
177,349
241
31,312
4,204
Aug-24
845
432,003
187,002
227
35,957
4,450
Sep-24 *
901
440,168
146,131
194
27,535
4,689
Data source: Fujairah Oil Industry Zone data published by S&P Global Commodity Insights
(1 cubic metre = 6.29 barrels)
(1 metric ton = 6.35 barrels for fuel oil) |
