Fujairah’s fuel oil inventories averaged 11% higher in March than in February, Fujairah Oil Industry Zone (FOIZ) and S&P Global data show.

Changes in monthly average Fujairah stocks from February to March:

• Heavy distillate and residual stocks up 1.07 million bbls to 11.07 million bbls
• Middle distillate stocks up 343,000 bbls to 2.49 million bbls

Fujairah's heavy distillate and residual fuel oil inventories surpassed 11 million bbls in March, reaching their highest level since May 2023.

The port imported approximately 330,000 b/d of fuel oil in March, a slight increase from 326,000 b/d in February, according to cargo tracker Vortexa. In March, Fujairah’s fuel oil imports were evenly split between HSFO and low-sulphur fuel oil (LSFO) at a 50/50 ratio, compared to February’s 84/16 ratio.

During the same period, Fujairah’s fuel oil exports rose by 27,000 b/d to reach 257,000 b/d in March. This shift turned the port’s trade balance into net exports.

Iran accounted for 20% of Fujairah’s total fuel oil imports in March, followed by Kuwait (17%) and Iraq (15%). Meanwhile, most fuel oil exports were sent to Malaysia (25%), with Singapore (13%) and the US (10%) being the second and third-largest destinations, respectively.

Fujairah’s middle distillate stocks also saw an average increase of 16% in March.

Prompt bunker availability remains tight at the port, with lead times for all grades steady at 5–7 days, the same as the previous week.

By Tuhin Roy

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