Singapore’s residual fuel oil stocks have averaged 17% higher so far in April than across March, according to Enterprise Singapore.

Changes in monthly average Singapore stocks from March to April (so far):

• Residual fuel oil stocks up 3.28 million bbls to 22.45 million bbls
• Middle distillate stocks down 762,000 bbls to 9.53 million bbls

Singapore's fuel oil stocks have climbed above 22 million bbls, reaching their highest level so far this year.

So far in April, the port has recorded a 12% increase in net fuel oil imports, with imports rising by 680,000 bbls—well above the 171,000-bbl increase in exports.

According to cargo tracker Vortexa, most fuel oil shipments to Singapore have originated from Russia (30%), Indonesia (9%) and the UAE (7%). On the export side, Singapore has mainly shipped fuel oil to China (45%), South Korea (16%) and the Philippines (8%).

In contrast, middle distillate stocks at the port have averaged 7% lower in April compared to March.

Changes in monthly average Singapore fuel oil trade from March to April (so far):

• Fuel oil imports up 680,000 bbls to 6.26 million bbls
• Fuel oil exports up 171,000 bbls to 1.63 million bbls
• Fuel oil net imports up 508,000 bbls to 4.63 million bbls

VLSFO lead times in Singapore have widened to 8–12 days, up from 7–10 days last week. In contrast, HSFO lead times have shortened to 5–9 days, compared to the previous 7–11 days. LSMGO availability remains steady, with recommended lead times ranging from 2-7 days.

By Tuhin Roy

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