Overview

Demand at key marine fuel hubs jumped by 8.2% in the third quarter of 2021 from the suppressed demand levels seen during the COVID-19 pandemic a year earlier, and also rose in a less pronounced way from the second quarter of 2021, according to the latest market survey of bunker sales volumes in 17 leading global locations.

As in previous quarters, Ship & Bunker and consultancy BLUE Insight surveyed bunker market participants around the world alongside official data where available and found an average jump of 8.2% in volumes in the third quarter from the same period of 2020. The year-on-year rise compares with a 6.3% year-on-year gain from the initial shock of the COVID-19 period in the second quarter. Q3 volumes sequentially were 1.2% higher than in Q2 2021.

"The current quarter seems to reflect the steady return of demand we saw in Q2 and a demand recovery for 2021 close to 2019 levels," Adrian Tolson, director of BLUE Insight, told Ship & Bunker.

"Container-oriented supply locations show the most consistent performance, reflecting the Q3 global perspective of an improved -- perhaps normalizing -- global economy with high consumer demand.

"Notably some of the more oil-oriented supply locations such as Fujairah and West Africa performed well, perhaps driven by more traditional patterns of oil demand as a reflection of improved economic activity."

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

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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ARA 

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Gibraltar Strait

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Fujairah

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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US Gulf

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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South Korea

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Russia

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Hong Kong

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Panama

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Zhoushan

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Japan

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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New York

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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LA/Long Beach

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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West Africa

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Canary Islands

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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Turkey

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 2021 XXX million mt
• Year-on-year change XXX%
• Quarter-on-quarter change XXX%

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South Africa

• Q3 2021 XXX million mt
• Q3 2020 XXX million mt
• Q2 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.