Overview

Demand at key marine fuel hubs jumped by 6.3% in the second quarter of 2021 from the initial shock of the COVID-19 pandemic a year earlier, but slipped marginally from the levels seen at the start of 2021, according to the latest market survey of bunker sales volumes in 17 leading global locations.

As in previous quarters, Ship & Bunker in conjunction with consultancy BLUE Insight surveyed bunker market participants around the world alongside official data where available and found an average jump of 6.3% in volumes in the second quarter from the same period of 2020. The year-on-year rise compares with a 4.7% year-on-year fall from the IMO 2020 peak in the first quarter, and Q2 volumes sequentially were 0.2% lower than in Q1 2021.

"This quarter’s figures reflect what we have all been hearing about shipping," Adrian Tolson, director of BLUE Insight, told Ship & Bunker.

"We have all seen pictures of idle container ships in major ports, but bunker volumes have actually grown mainly because of increased consumption as ships have been speeding up to reach the next destination and get in line to discharge containers.

"Bulk shipping charter rates have been making headlines; some of this has to do with a shortage of tonnage due to a significant percentage of the fleet being tied up waiting to discharge, but those ports with bulk raw material activity have seen better bunker demand.

"Tankers reflect the still depressed global refining activity, and those ports that have large amounts of tankers are not seeing their bunker demand return."

Methodology

As with the previous surveys the areas covered by the survey are Singapore, the Amsterdam-Rotterdam-Antwerp (ARA) hub, Fujairah, the US Gulf, South Korea, Russia, the Gibraltar Strait, Hong Kong, Panama, Zhoushan, Japan, New York, West Africa, South Africa, the Canary Islands, Los Angeles/Long Beach and Turkey.

Together these areas saw just under 134 million mt of demand in 2020, meaning they cover more than 60% of current global demand.

The survey covers only conventional marine fuels.

Individual Market Volumes & Commentary

Singapore

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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ARA 

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Gibraltar Strait

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Fujairah

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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US Gulf

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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South Korea

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Russia

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Hong Kong

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Panama

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Zhoushan

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Japan

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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New York

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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LA/Long Beach

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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West Africa

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Canary Islands

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Turkey

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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South Africa

• Q2 2021 XXX million mt
• Q2 2020 XXX million mt
• Q1 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

Individual market commentaries are only available to subscribers. Click here to learn more and get instant access from just $59. Existing subscribers can sign in here.