Fujairah January Bunker Sales Jump to Five-Month High

by Ship & Bunker News Team
Friday March 1, 2024

Bunker fuel sales at the Middle Eastern hub of Fujairah climbed on both a yearly and monthly basis in January, rising to the highest level in five months.

Total sales excluding lubricants reached 674,632 m3 in January, 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 6% from a year earlier, by 2.4% from December's level and the most since August.

January's sales were 8.2% 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 11.9% on the year but lost 2.9% on the month in January.

180 CST VLSFO sales in Fujairah rose by 13.7% on the year to 341 m3 in January, 380 CST VLSFO lost 3.8% to 436,604 m3, HSFO jumped by 37.1% to 207,124 m3, MGO sank by 84.7% to 122 m3 and LSMGO fell by 1.3% to 30,441 m3.

HSFO took a 30.7% share of the total market last month, up from 23.7% a year earlier.

Fujairah's average VLSFO price in January was $612.50/mt, down by 0.3% on the month and by 4.1% on the year, according to Ship & Bunker data.

Singapore's average VLSFO price in January was $617/mt, up by 0.8% from December's level but down by 4.3% from the level seen a year earlier.

Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports gained 0.9% on the month but lost 3.9% on the year to $637.50/mt in January.