Singapore’s residual fuel oil stocks have averaged 9% lower in May so far than in April, Enterprise Singapore’s latest data shows.
Changes in monthly average Singapore stocks from April to May:
Residual fuel oil stocks down 1.96 million bbls to 19.88 million bbls
Middle distillate stocks down 110,000 bbls to 10.08 million bbls
Fuel oil inventories in Singapore have averaged below 20 million bbls in May so far amid a sharp fall in the port’s net fuel oil imports. Exports have declined by 835,000 bbls, while imports have more than halved.
The port’s middle distillate inventories have averaged 1% lower so far this month, at 10.08 million bbls.
Changes in Singapore fuel oil trade from April to May:
Fuel oil imports down 2.58 million bbls to 2.48 million bbls
Fuel oil exports down 835,000 bbls to 1.64 million bbls
Fuel oil net imports down 1.74 million bbls to 841,000 bbls
Bunker fuel availability across all grades remains tight in Singapore. VLSFO delivery requires lead times 9-18 days, while HSFO needs around 4-10 days. LSMGO availability has tightened as well, with recommended lead times of 5-9 days.
Source: By Shilpa Sharma, ENGINE,
