Marine gas gross sales within the United Arab Emirates’ Fujairah, the world’s third-largest bunkering hub, fell in February to their lowest since knowledge began being revealed in 2021.
Volumes, excluding lubricants, totalled 554,117 cubic metres (about 549,000 metric tons) for February, confirmed newest Fujairah Oil Business Zone (FOIZ) knowledge revealed by S&P World Commodity Insights.
The decline displays slower refuelling demand at key bunker ports within the 12 months to date, towards a backdrop of world transport uncertainty. Gross sales at high bunker port Singapore additionally softened lately, hitting its lowest in 20 months.
Volumes at Fujairah fell month-on-month for the important thing bunker grades, the FOIZ knowledge confirmed.
Gross sales of 380-cst high-sulphur marine gas dipped 2% from January to about 143,000 cubic metres in February, whereas low-sulphur marine gas gross sales, together with low-sulphur gas oils and marine gasoils, fell 7.2% to about 412,000 cubic metres.
Some demand was diverted to different ports within the area together with Khor Fakkan and Jebel Ali, providing extra aggressive costs in some cases, a Dubai-based buying and selling supply stated.
The market share of high-sulphur bunkers narrowed to 26% in February, in contrast with 29% in January. Low-sulphur bunkers’ share widened to 74% versus 71%.
Fujairah bunker gross sales by month, in cubic meters:
Month
Whole Gross sales
M-o-M
Y-o-Y
Jan-24
674,632
2.4%
6.6%
Feb-24
633,436
-6.1%
10.7%
Mar-24
700,918
10.7%
25.2%
Apr-24
638,960
-8.8%
7.1%
Might-24
615,462
-3.7%
-0.8%
Jun-24
610,765
-0.8%
0.9%
Jul-24
621,679
1.8%
-5.7%
Aug-24
656,034
5.5%
-3.2%
Sep-24
614,929
-6.3%
-2.2%
Oct-24
635,471
3.3%
-2.9%
Nov-24
606,042
-4.6%
-0.7%
Dec-24
606,427
0.1%
-7.9%
Jan-25
628,663
3.7%
-6.8%
Feb-25 *
554,117
-11.9%
-12.5%
Breakdown of volumes by grade for Jan-25:
180cst LSFO
380cst LSFO
MGO
LSMGO
380cst HSFO
Lubricants
702
382,303
341
28,176
142,595
4,183
Knowledge supply: Fujairah Oil Business Zone knowledge revealed by S&P World Commodity Insights
(1 cubic metre = 6.29 barrels)
(1 metric ton = 6.35 barrels for gas oil)
(Reuters)
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