Marine fuel sales at the world’s third-largest bunkering hub of Fujairah in the United Arab Emirates fell to record lows in February, based on the latest Fujairah Oil Industry Zone data, which started being published in 2021.
The drop reflects the softer bunker demand across key refuelling ports in February, when sales at the world’s largest bunker hub Singapore slumped to an eight-month low.
Total bunkering volumes, excluding lubricants, were at 572,023 cubic metres (about 567,000 tonnes) in February, based on data from the Fujairah Oil Industry Zone published by industry information service S&P Global Commodity Insights.
February sales fell about 10% month-on-month and 6.5% year-on-year, while the market share of low-sulphur bunker fuel volumes contracted by 4%, to 72%, in February, calculations based on the data showed.
Total sales of low-sulphur fuel oil and marine gasoil fell 14% month-on-month to 412,463 cubic meters (about 409,000 tonnes) in February.
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Meanwhile, 380-cst high-sulphur bunker fuel sales were 6% higher at 159,908 cubic meters (about 158,000 tonnes).
Source: Reuters (Reporting by Matthew Chye; Editing by Savio D’Souza)