EMEA News
Fujairah July Bunker Sales Jump to 2023 High
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.
Total sales excluding lubricants reached 659,566 m3 in July, 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 9% from June's level, down by 0.8% from July 2022 and the highest monthly total since December.
July's sales were 3.8% 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 9.3% on the year and by by 14.9% on the month in July.
180 CST VLSFO sales in Fujairah gained 386% on the year to 1,272 m3 in July, 380 CST VLSFO sank by 11.3% to 459,665 m3, HSFO jumped by 55.3% to 174,227 m3, MGO rose by 34.4% to 1,387 m3 and LSMGO declined by 30.8% to 23,015 m3.
HSFO took a 23.7% share of the total market last month, up from 16.9% a year earlier.
Fujairah's average VLSFO price in July was $575/mt, down by 2.5% on the month and by 47.9% on the year, according to Ship & Bunker data.
Singapore's average VLSFO price in July was was $586/mt, down by 0.4% from June's level and by 41.7% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports gained 1.4% on the month and lost 38.5% on the year to $603/mt in July.
