Fujairah’s fuel oil stocks have averaged 5% higher so far this month than across August, Fujairah Oil Industry Zone (FOIZ) and S&P Global data show.

Changes in monthly average Fujairah stocks from August to September (so far):

• Heavy distillate and residual stocks up 418,000 bbls to 9.01 million bbls
• Middle distillate stocks up 547,000 bbls to 2.75 million bbls

Fujairah has imported 316,000 b/d of fuel oil so far in September, a decrease of 74,000 b/d from August, according to cargo tracker Vortexa. Meanwhile, the port's fuel oil exports have risen by 23,000 b/d, reaching 312,000 b/d in September.

The majority of fuel oil imports have arrived from Iraq (45%), followed by Russia (30%) and Iran (12%). On the export side, Singapore has been the top destination, receiving 48% of Fujairah's fuel oil exports, followed by the US (19%) and Egypt (17%).

Additionally, Fujairah’s middle distillate stocks have increased by 25% this month.

Prompt availability in Fujairah remains very tight, with most suppliers recommending lead times of 7-10 days for all bunker fuel grades, though some can still provide prompt deliveries. 

By Tuhin Roy

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