EMEA News
Fujairah May Bunker Sales Advance to Four-Month High
Bunker fuel sales at the Middle Eastern hub of Fujairah, the world's third-largest marine fuels location after Singapore and Rotterdam, advanced to a four-month high in May but remained significantly down from last year's levels.
Total sales excluding lubricants reached 620,388 m3 in May, 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 4% from April, down by 16.7% from May 2022 and the highest level since January.
May's sales were 3% lower than the average seen over the previous 12 months.
Singapore, the world's largest marine fuels hub, saw sales in May jump by 11.8% from the same month a year earlier, by 6.2% from April's level and reach the highest monthly figure since January 2018.
180 CST VLSFO sales in Fujairah lost 62.5% on the year to 170 m3 in May, 380 CST VLSFO sank by 15.6% to 468,635 m3, HSFO dropped by 18.2% to 126,586 m3, MGO climbed by 85.9% to 2,021 m3 and LSMGO declined by 31.7% to 22,976 m3.
HSFO took a 20.4% share of the total market last month, down from 20.8% a year earlier.
Fujairah's average VLSFO price in May was $562/mt, down by 6.6% on the month and by 39.1% on the year, according to Ship & Bunker data.
Singapore's average VLSFO price in May was was $574/mt, down by 5.5% from April's level and by 39% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 6.5% on the month and 38.5% on the year to $585.50/mt in May.
