off-the-wire

UAE's Fujairah marine fuel sales at record lows in February

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Matthew Chye SINGAPORE, March 16 (Reuters) - Marine fuel sales at the world's third-largest bunkering hub of Fujairah in the United Arab Emirates fell to record lows in February, based on the latest Fujairah Oil Industry Zone data, which started being published in 2021. The drop reflects the softer bunker demand across key refuelling ports in February, when sales at the world's largest bunker hub Singapore slumped to an eight-month low. Total bunkering volumes, excluding lubricants, were at 572,023 cubic metres (about 567,000 tonnes) in February, based on data from the Fujairah Oil Industry Zone published by industry information service S&P Global Commodity Insights. February sales fell about 10% month-on-month and 6.5% year-on-year, while the market share of low-sulphur bunker fuel volumes contracted by 4%, to 72%, in February, calculations based on the data showed. Total sales of low-sulphur fuel oil and marine gasoil fell 14% month-on-month to 412,463 cubic meters (about 409,000 tonnes) in February. Meanwhile, 380-cst high-sulphur bunker fuel sales were 6% higher at 159,908 cubic meters (about 158,000 tonnes).


Fujairah bunker sales by month in cubic metres, excluding lubricants:
Month Total Sales M-o-M Y-o-Y Jan-22 646,089 -7.4% -4.3% Feb-22 612,388 -5.2% -3.0% Mar-22 691,141 12.9% 9.9% Apr-22 664,870 -3.8% -1.4% May-22 745,064 12.1% 11.6% Jun-22 647,184 -13.1% -2.8% Jul-22 665,128 2.8% -3.0% Aug-22 723,418 8.8% 2.9% Sep-22 667,878 -7.7% 5.0% Oct-22 655,126 -1.9% -15.6% Nov-22 636,688 -2.8% -13.1% Dec-22 694,390 9.1% -0.5% Jan-23 633,023 -8.8% -2.0% Feb-23* 572,371 -9.6% -6.5%


Monthly bunker sales by grade in cubic metres:
Month 180cst LSFO 380cst LSFO 380cst HSFO MGO LSMGO Lubricants Jan-22 288 497,670 119,747 1,215 27,169 5,341
Feb-22 150 462,035 125,389 1,395 23,419 5,234
Mar-22 369 527,677 129,293 1,096 32,706 5,469
Apr-22 1,084 512,565 116,621 1,873 32,727 5,193
May-22 453 555,151 154,721 1,087 33,652 5,713
Jun-22 372 482,926 132,690 1,287 29,909 5,036
Jul-22 262 518,374 112,223 1,032 33,237 4,864
Aug-22 528 549,205 142,548 1,607 29,530 4,869
Sep-22 589 508,277 128,515 1,210 29,287 5,269
Oct-22 984 481,052 141,780 1,164 30,146 4,269
Nov-22 1,594 476,746 129,528 903 27,917 3,904
Dec-22 1,494 500,082 159,566 899 32,349 4,715
Jan-23 300 453,703 151,055 796 27,169 4,039
Feb-23* 545 389,544 159,908 713 21,661 4,549

(Data from the Fujairah Oil Industry Zone published by S&P Global Commodity Insights)
(Reporting by Matthew Chye; Editing by Savio D'Souza)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.