World News
Fujairah Bunker Volumes Show First Half Dip
United Arab Emirates bunkering hub Fujairah has seen sales fall away in the first half of this year.
Bunker volumes in the port, which is a top three global bunker destination, have slipped by 20% over the same period last year, according to price-reporting agency Platts citing market sources.
Platts puts sales-to-date in the port at under 6.5 million metric tonnes (mt).
According to market sources contacted by Platts, the impact of the Saudi Arabia-led regional coalition applying economic pressure on regional state Qatar has led to weaker demand at Fujairah.
"We are hearing more suppliers are moving out of the market and reducing their barges," a Fujairah-based bunker trader was quoted as saying.
Fujairah along with Rotterdam and Singapore comprise the three biggest centres for global bunkering although at over 50 million mt annually, Singapore far outstrips the other two.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Fujairah | 649.50 | 4.00 | 888.50 | 11.50 |
| Singapore | 647.00 | 8.50 | 779.00 | 29.50 |
| Rotterdam | 608.00 | 11.00 | 764.50 | 24.50 |
| Houston | 636.50 | 8.00 | 807.50 | 5.00 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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