Singapore’s residual fuel oil stocks have averaged 20% 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 3.84 million bbls to 23.01 million bbls
• Middle distillate stocks down 1.08 million bbls to 9.21 million bbls

At 23.01 million bbls, the port's fuel oil stocks have reached a multi-year high.

Singapore has seen a notable 21% rise in net fuel oil imports in April, with imports increasing by 1.33 million bbls and exports rising by 455,000 bbls.

According to cargo tracker Vortexa, most of the inbound fuel oil cargoes originated from Russia (32%), Indonesia (10%), and the UAE (7%). On the export side, Singapore has primarily shipped fuel oil to China (48%), South Korea (12%) and Malaysia (8%).

In contrast, the port’s middle distillate stocks have averaged 10% lower in April compared to March.

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

• Fuel oil imports up 1.33 million bbls to 6.90 million bbls
• Fuel oil exports up 455,000 bbls to 1.91 million bbls
• Fuel oil net imports up 871,000 bbls to 4.99 million bbls

In Singapore, VLSFO lead times now vary widely, ranging from 6–18 days—a marked change from last week when most suppliers recommended 8–12 days.

HSFO lead times have also increased, now standing at 7–11 days compared to 5–9 days previously. In contrast, LSMGO availability remains steady, with recommended lead times unchanged at 6–8 days.

By Tuhin Roy

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