Fujairah’s residual fuel oil inventories have averaged 2% lower so far this month than across February, Fujairah Oil Industry Zone (FOIZ) and S&P Global data shows.

Changes in monthly average Fujairah stocks from February to March (so far):

• Heavy distillate and residual stocks down 240,000 bbls to 9.75 million bbls
• Middle distillate stocks up 205,000 bbls to 2.36 million bbls

According to cargo tracker Vortexa, the Middle Eastern bunker hub has imported 339,000 b/d of fuel oil so far this month, up from 326,000 b/d in February. Most of Fujairah’s fuel oil imports have come from Iran (25%), Russia (16%) and Greece (15%).

During the same period, the port’s fuel oil exports have surged by 111,000 b/d to reach 341,000 b/d. Most of these exports are headed to Singapore (55%), Sri Lanka (14%) and Thailand (12%).

Meanwhile, the port’s middle distillate stocks have risen, averaging 10% higher than in February.

In Fujairah, prompt fuel availability remains tight, with lead times for all fuel grades still at 5–7 days, unchanged from last week. Some suppliers can offer prompt deliveries but at higher prices, according to a source.

By Tuhin Roy

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