Fujairah Bunker Sales Dropped by 8.8% on Month in April

by Ship & Bunker News Team
Friday May 17, 2024

Bunker fuel sales at the Middle Eastern hub of Fujairah dropped on a monthly basis in April, having reached the highest level in 18 months in March.

Total sales excluding lubricants reached 638,960 m3 in April, according to the latest data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Commodity Insights. The total was up by 7.2% from a year earlier, but down by 8.8% from March's level.

April's sales were 0.7% lower than the average seen over the previous 12 months.

Singapore, the world's largest marine fuels hub, saw conventional and biofuel bunker sales drop by 1.3% on the year by 4.7% on the month in April.

180 CST VLSFO sales in Fujairah rose by 54.6% on the year to 742 m3 in April, 380 CST VLSFO lost 1.6% to 434,918 m3, HSFO jumped by 35.4% to 171,841 m3, MGO climbed by 146.7% to 634 m3 and LSMGO advanced by 15.3% to 30,825 m3.

HSFO took a 26.9% share of the total market last month, up from 21.3% a year earlier.

Fujairah's average VLSFO price in April was $650/mt, up by 1% on the month and by 7.6% on the year, according to Ship & Bunker data.

Singapore's average VLSFO price in April was $649/mt, up by 1% from March's level and by 7.4% from the level seen a year earlier.

Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports gained 0.6% on the month and 6.8% on the year to $668.50/mt in April.