Bunker fuel sales at the Middle Eastern hub of Fujairah, the world's third-largest marine fuels location after Singapore and Rotterdam, advanced to a four-month high in May but remained significantly down from last year's levels, according to Ship & Bunker.
Total sales excluding lubricants reached 620,388 m3 in May, according to the latest data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Commodity Insights.
The total was up by 4% from April down by 16.7% from May 2022 and the highest level since January May's sales were 3% lower than the average seen over the previous 12 months Singapore, the world's largest marine fuels hub, saw sales in May jump by 11.8% from the same month a year earlier, by 6.2% from April's level and reach the highest monthly figure since January 2018.
180 CST VLSFO sales in Fujairah lost 62.5% on the year to 170 m3 in May, 380 CST VLSFO sank by 15.6% to 468,635 m3, HSFO dropped by 18.2% to 126,586 m3, MGO climbed by 85.9% to 2,021 m3 and LSMGO declined by 31.7% to 22,976 m3 HSFO took a 20.4% share of the total market last month, down from 20.8% a year earlier.
Fujairah's average VLSFO price in May was $562/mt, down by 6.6% on the month and by 39.1% on the year, according to Ship & Bunker data.
Singapore's average VLSFO price in May was was $574/mt, down by 5.5% from April's level and by 39% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 6.5% on the month and 38.5% on the year to $585.50/mt in May.
