EMEA News
Fujairah HSFO Sales Climb to Highest Level Since 2020
Bunker fuel sales at the Middle Eastern hub of Fujairah, the world's third-largest marine fuels location after Singapore and Rotterdam, jumped to the highest level seen in 2023 last month as HSFO sales hit the highest level since at least 2020.
Total sales excluding lubricants reached 677,503 m3 in August, 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 2.7% from July's level, down by 6.4% from August 2022 and the highest monthly total since December.
August's sales were 7.2% higher than the average seen over the previous 12 months.
Singapore, the world's largest marine fuels hub, saw conventional and biofuel bunker sales advance by 3% on the year and but decline by 5.8% on the month in August.
180 CST VLSFO sales in Fujairah dropped to 0 m3 in August, 380 CST VLSFO sank by 18% on the year to 450,420 m3, HSFO jumped by 37.7% to 196,343 m3, MGO fell by 71.4% to 459 m3 and LSMGO advanced by 2.5% to 30,281 m3.
HSFO took a 29% share of the total market last month, up from 19.7% a year earlier. HSFO's August total was the highest since at least the start of 2021, when the current public volumes dataset was launched.
Fujairah's average VLSFO price in August was $635.50/mt, up by 10.5% on the month but down by 24.4% on the year, according to Ship & Bunker data.
Singapore's average VLSFO price in August was $640/mt, up by 9.2% from July's level but down by 17.4% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports gained 8.4% on the month and lost 20.4% on the year to $653.50/mt in August.
