Singapore’s residual fuel oil stocks have averaged 6% higher so far this month compared to May, according to Enterprise Singapore.

Changes in monthly average Singapore stocks from May to June (so far):

• Residual fuel oil stocks up 1.34 million bbls to 22.61 million bbls
• Middle distillate stocks up 1.32 million bbls to 10.97 million bbls

Singapore's fuel oil stocks have climbed to over 22 million bbls, driven by a 6% rise in net fuel oil imports so far in June. Exports have increased by 514,000 bbls and outpaced a 370,000-bbl drop in imports.

According to cargo tracker Vortexa, most fuel oil arrivals this month have come from the UAE (22%), Russia (18%) and Nigeria (10%). On the export side, 66% of fuel oil cargo volumes from Singapore have been sent to China, followed by Malaysia (11%) and South Korea (5%).

Middle distillate stocks in Singapore have also risen, averaging 14% higher this month.

Changes in Singapore fuel oil trade from May to June (so far):

• Fuel oil imports down 370,000 bbls to 4.51 million bbls
• Fuel oil exports down 514,000 bbls to 2.04 million bbls
• Fuel oil net imports up 144,000 million bbls to 2.47 million bbls

In Singapore's delivered bunker market, VLSFO lead times remain steady at 6–10 days, with little change from the previous week. LSMGO is widely available, with most suppliers recommending lead times of 2–5 days, also largely unchanged. HSFO continues to require lead times of 6–10 days, similar to last week.

By Tuhin Roy

Please get in touch with comments or additional info to news@engine.online