EMEA News
Fujairah Bunker Sales Dropped to Six-Month Low in May
Bunker fuel sales at the Middle Eastern hub of Fujairah sank to the lowest level in six months in May.
Total sales excluding lubricants reached 615,462 m3 in May, 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 0.8% from a year earlier, by 3.7% from April's level and the lowest since November.
May's sales were 4.5% lower than the average seen over the previous 12 months.
Singapore, the world's largest marine fuels hub, saw conventional and biofuel bunker sales jump by 5.6% on the year by 13.7% on the month in May.
180 CST VLSFO sales in Fujairah rose by 172.9% on the year to 464 m3 in May, 380 CST VLSFO lost 9.8% to 422,659 m3, HSFO jumped by 29.5% to 163,893 m3, MGO sank by 97% to 61 m3 and LSMGO advanced by 23.5% to 28,385 m3.
HSFO took a 26.6% share of the total market last month, up from 20.4% a year earlier.
Fujairah's average VLSFO price in May was $620/mt, down by 4.6% on the month but up by 10.3% on the year, according to Ship & Bunker data.
Singapore's average VLSFO price in May was $620/mt, down by 4.5% from April's level but up by 8% from the level seen a year earlier.
Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 4.9% on the month and gained 8.5% on the year to $635.50/mt in May.
