Marine fuel sales at the world’s third-largest bunkering hub of Fujairah in the United Arab Emirates fell to 11-month lows in January, latest Fujairah Oil Industry Zone data showed.
Total bunkering volumes, excluding lubricants, were at 633,023 cubic metres (about 627,000 tonnes) in January, based on data from the Fujairah Oil Industry Zone published by industry information service S&P Global Commodity Insights.
Slight delays in cargo loadings slowed bunkering activity, while demand was also softer as some shippers have covered their buying requirements before the New Year vacations, a Fujairah bunker trader said.
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January sales fell 9% month-on-month, while the market share of low-sulphur bunker fuel volumes contracted by 1% to 76% in January, calculations based on the data showed.
Total sales of low-sulphur fuel oil and marine gasoil fell 10% month-on-month to 481,986 cubic meters (about 477,000 tonnes) in January.
Meanwhile, 380-cst high-sulphur bunker fuel sales were 5% lower at 151,055 cubic meters (about 150,000 tonnes).