Residual fuel oil stocks in Singapore averaged 7% lower in May than in April, data from Enterprise Singapore shows.

Changes in monthly average Singapore stocks from April to May:

• Residual fuel oil stocks down 1.61 million bbls to 21.27 million bbls
• Middle distillate stocks up 560,000 bbls to 9.65 million bbls

Singapore's fuel oil stocks dropped below 22 million bbls in May following a sharp 53% decline in the port’s net fuel oil imports. Imports fell by 1.74 million bbls, while exports increased by 930,000 bbls.

In May, the majority of incoming fuel oil shipments came from Russia (26%), Brazil (9%), and Indonesia (8%). Most exports during the same period were directed to China (57%), Malaysia (13%) and Sudan (9%).

Meanwhile, the port’s middle distillate stocks rose, averaging 6% higher compared to the previous month.

Changes in monthly average Singapore fuel oil trade from April to May:

• Fuel oil imports down 1.74 million bbls to 4.88 million bbls
• Fuel oil exports up 930,000 bbls to 2.55 million bbls
• Fuel oil net imports down 2.67 million bbls to 2.33 million bbls

In Singapore, lead times of 7–14 days are recommended for VLSFO, slightly shorter than last week's range of 8–15 days. LSMGO lead times have extended to 3–10 days, up from the previous 4–7 days. HSFO lead times continue to show variability, fluctuating between 2–8 days.

By Tuhin Roy

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