Singapore’s residual fuel oil stocks have averaged 8% higher so far this month than across June, Enterprise Singapore’s latest data shows.

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

• Residual fuel oil stocks up 1.93 million bbls to 24.71 million bbls
• Middle distillate stocks down 804,000 bbls to 9.74 million bbls

The port's fuel oil stocks have reached a multi-year high of 24.71 million bbls.

Singapore has seen a sharp 45% increase in net fuel oil imports in July, with imports rising by 2.22 million bbls. This surge has far outpaced the 1.08 million-bbl increase in exports to help a buildup in stock levels.

According to cargo tracker Vortexa, most of Singapore’s fuel oil imports so far this month have come from Russia (26%), Iraq (14%), and Brazil (10%). On the export side, the majority of shipments have gone to Malaysia (39%), followed by China (28%) and South Korea (5%).

In contrast, the port’s middle distillate stocks have declined by 8% so far this month.

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

• Fuel oil imports up 2.22 million bbls to 6.75 million bbls
• Fuel oil exports up 1.08 million bbls to 3.09 million bbls
• Fuel oil net imports up 1.14 million bbls to 3.66 million bbls

VLSFO bunker lead times in Singapore remain inconsistent. Some suppliers are offering as few as six days, while others recommend booking up to two weeks ahead.

Lead times for LSMGO in Singapore have risen, with most suppliers now advising 6–9 days, up from 2–8 days last week. HSFO lead times continue to vary widely, ranging from 3–12 days, compared to 9–14 days the previous week.

By Tuhin Roy

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