EMEA News
Fujairah November Bunker Sales Sink to Five-Month Low
Bunker fuel sales at the Middle Eastern hub of Fujairah sank on both a yearly and monthly basis in November, slipping to the lowest level in five months.
Total sales excluding lubricants reached 610,498 m3 in November, according to the latest data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Commodity Insights. The total was down by 4.1% from a year earlier, by 6.7% from October's level and the least since June.
November's sales were 2.9% lower than the average seen over the previous 12 months.
Singapore, the world's largest marine fuels hub, saw conventional and biofuel bunker sales decline by 2.6% on the year and by 2.9% on the month in November.
180 CST VLSFO sales in Fujairah sank by 67.8% on the year to 513 m3 in November, 380 CST VLSFO lost 14.5% to 407,503 m3, HSFO jumped by 32.4% to 171,438 m3, MGO advanced by 169.1% to 2,430 m3 and LSMGO rose by 2.5% to 28,614 m3.
HSFO took a 28.1% share of the total market last month, up from 20.3% a year earlier.
Fujairah's average VLSFO price in November was $669.50/mt, up by 2.1% on the month but down by 1.1% on the year, according to Ship & Bunker data.
Singapore's average VLSFO price in November was $685.50/mt, up by 2.5% from October's level and by 0.7% from the level seen a year earlier.
Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 0.7% on the month and 6.3% on the year to $668/mt in November.
