EMEA News
Fujairah March Bunker Sales Drop to Lowest in at Least Two Years
Bunker fuel sales at the Middle Eastern hub of Fujairah, the world's third-largest marine fuels location after Singapore and Rotterdam, dropped to the lowest level in at least two years last month.
Total sales excluding lubricants sank by 19% on the year to 559,800 m3 in March, 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 2.2% from February's level, and was the lowest since at least the start of 2021, when the data was first compiled in its current format. March's sales were 16.1% lower than the average seen over the preceding 12 months.
Singapore, the world's largest marine fuels hub, saw sales rise by 10.8% year-on-year in March and advance by 10% from February's level.
180 CST VLSFO sales in Fujairah lost 32.3% on the year to 250 m3, 380 CST VLSFO sank by 14.5% to 451,405 m3, HSFO slumped by 37.3% to 81,058 m3, MGO dropped by 50.9% to 538 m3 and LSMGO declined by 18.8% to 26,549 m3.
HSFO took a 14.5% share of the total market last month, down from 18.8% a year earlier.
Fujairah's average VLSFO price in March was $582/mt, down by 8.6% on the month and by 36.8% on the year, according to Ship & Bunker data.
Singapore's average VLSFO price in March was $583/mt, down by 9.3% from February's level and by 34.9% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 6.8% on the month and 33.1% on the year to $620/mt in March.
