Bunker fuel sales at the Middle Eastern hub of Fujairah, the world's third-largest marine fuels location after Singapore and Rotterdam, declined on both a monthly and yearly basis in June after reaching a four-month high in May.
Total sales excluding lubricants reached 605,374 m3 in June, according to the latest data from the Fujairah Oil Industry Zone and price reporting agency S&P Global Commodity Insights.
The total was down by 2.4% from May's level and by 6.5% from June 2022. June's sales were 4.8% lower than the average seen over the previous 12 months.
Singapore, the world's largest marine fuels hub, saw sales drop by 13% month-on-month in June. 180 CST VLSFO sales in Fujairah gained 53% on the year to 573 m3 in June, 380 CST VLSFO sank by 7% to 449,264 m3, HSFO dropped by 4.1% to 127,573 m3, MGO fell by 15.5% to 1,088 m3 and LSMGO declined by 10.1% to 26,876 m3. HSFO took a 21.1% share of the total market last month, up from 20.5% a year earlier.
Fujairah's average VLSFO price in June was $575/mt, up by 2.3% on the month but down by 48% on the year, according to Ship & Bunker data. Singapore's average VLSFO price in June was was $590/mt, up by 2.8% from May's level but down by 46.7% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports gained 1.7% on the month and lost 45.2% on the year to $595.50/mt in June.
