Fujairah has imported 61,000 b/d of fuel oil in the first week of this month, a massive decline of 177,000 b/d from May, according to cargo tracker Vortexa.
The port imported HSFO and LSFO in a 57/43 ratio in May, while coming into this month only HSFO imports were made. Fuel oil imports have primarily arrived from Iraq this month.
Fujairah’s fuel oil exports have jumped by a massive 85,000 b/d to 414,000 b/d in the first week of June. This has comfortably tilted the port’s trade balance into net exports this month. The bulk of fuel oil exports from Fujairah has departed for Singapore (85%), followed by Sudan and Somalia.
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Meanwhile, the port’s middle distillate stocks have also surged, averaging 11% higher on the month.
Fujairah has been witnessing good demand, a source says. Some suppliers can offer all three grades at lead times of 5-7 days – virtually unchanged from last week.
Source: ENGINE, By Tuhin Roy, https://engine.online/news/availability/fujairahs-fuel-oil-inventories-rise-4-pc-this-month-4baf
