Fujairah’s residual fuel oil inventories have averaged 4% lower so far this month compared to May, according to data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global.

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

• Heavy distillate and residual stocks down 343,000 bbls to 9.18 million bbls
• Middle distillate stocks up 286,000 bbls to 1.58 million bbls

According to cargo tracker Vortexa, the Middle Eastern bunker hub Fujairah has imported 246,000 b/d of fuel oil so far this month, up from 193,000 b/d in May. The majority of these imports have come from Iraq (25%), followed by Russia and Kuwait (14% each).

During the same period, Fujairah’s fuel oil exports have dropped by 110,000 b/d, falling to 169,000 b/d. Most of the exports are destined for Singapore (49%), South Korea (14%) and Malaysia (13%).

Meanwhile, the port’s middle distillate stocks have increased, averaging 22% higher than in May.

VLSFO bunker availability has tightened, with recommended lead times now around nine days - up from 5–7 days last week.

Lead times for LSMGO and HSFO remain steady at about seven days. While some suppliers can still provide prompt deliveries, these typically come at a price premium.

By Tuhin Roy

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