Residual fuel oil stocks in Singapore averaged 7% higher in June than in May, recent data from Enterprise Singapore shows.

Changes in monthly average Singapore stocks from May to June:

• Residual fuel oil stocks up 1.50 million bbls to 22.77 million bbls
• Middle distillate stocks up 895,000 bbls to 10.55 million bbls

Singapore’s fuel oil stocks rose above 22 million bbls in June, driven by an 8% increase in net fuel oil imports. Imports dropped by 348,000 bbls, while exports saw a sharper decline of 543,000 bbls.

According to cargo tracker Vortexa, the largest share of fuel oil cargoes arriving in Singapore came from Russia (22%), followed by Brazil (13%) and Nigeria (10%). On the export side, most shipments were sent to China (68%), with smaller volumes going to Bangladesh (9%) and Malaysia (7%).

Additionally, Singapore’s middle distillate stocks averaged 9% higher in June compared to May.

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

• Fuel oil imports down 348,000 bbls to 4.53 million bbls
• Fuel oil exports down 543,000 bbls to 2.01 million bbls
• Fuel oil net imports up 195,000 bbls to 2.52 million bbls

In Singapore, VLSFO lead times remain unpredictable despite weak demand. Some suppliers are quoting six days, while others suggest booking up to two weeks in advance — a slight improvement from last week’s range of 5–21 days.

LSMGO lead times are now mostly between 2–8 days, compared to 4–6 days last week. Meanwhile, HSFO lead times have increased to 9–14 days, up from 7–12 days previously.

By Tuhin Roy

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