Bunker fuel sales at the Middle Eastern hub of Fujairah rose to the highest level in three months in July. Total sales excluding lubricants reached 621,679 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 down by 5.7% from a year earlier, but up by 1.8% from June’s level and the highest since April, Ship & Bunker reported.
July’s sales were 3.9% lower than the average seen over the previous 12 months. If Fujairah’s sales continued their performance from the first seven months of the year, 2024’s total would be 7.71 million mt, up by 3% on the year and the most since 2022.
Singapore, the world’s largest marine fuels hub, saw conventional and biofuel bunker sales rise by 2.8% on the year and by 9.5% on the month in July.
180 CST VLSFO sales in Fujairah rose by 10.9% on the year to 1,411 m3 in July, 380 CST VLSFO lost 10.5% to 411,366 m3, HSFO jumped by 1.8% to 177,349 m3, MGO sank by 82.6% to 241 m3 and LSMGO advanced by 36.1% to 31,312 m3. HSFO took a 28.5% share of the total market last month, up from 26.4% a year earlier. Fujairah’s average VLSFO price in July was $624/mt, up by 4% on the month and by 7.5% on the year, according to Ship & Bunker data. Singapore’s average VLSFO price in July was $625/mt, up by 3.6% from June’s level and by 6.6% from the level seen a year earlier.
Ship & Bunker’s G20-VL SFO Index of average prices across 20 leading bunkering ports gained 2.3% on the month and 5.2% on the year to $634.50/mt in July.
Source: Port News
