Singapore’s residual fuel oil stocks have averaged 9% higher in the first week of August than across July, Enterprise Singapore’s latest data shows.

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

• Residual fuel oil stocks up 2.20 million bbls to 26.32 million bbls
• Middle distillate stocks down 111,000 bbls to 8.67 million bbls

Singapore’s fuel oil imports have dropped by 23%, decreasing by 1.48 million bbls so far this month. However, this decline is smaller than the 2.47 million-bbl fall in exports.

Most of the imported fuel oil has originated from the UAE (22%), Iraq (22%), and the US (14%), according to cargo tracker Vortexa. On the export side, the largest share of Singapore’s fuel oil shipments has gone to China (23%), followed by Malaysia (17%) and the French Overseas Territories (11%).

In contrast, the port’s middle distillate stocks have dipped by 1% so far this month, reaching 8.67 million bbls—their lowest level since January of last year.

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

• Fuel oil imports down 1.48 million bbls to 4.87 million bbls
• Fuel oil exports down 2.47 million bbls to 404,000 bbls
• Fuel oil net imports up 992,000 bbls to 4.47 million bbls

VLSFO delivery schedules in Singapore vary significantly. Some suppliers are able to deliver within three days, while others require bookings up to three weeks in advance.

HSFO now requires 7–12 days for delivery, slightly more than the last week’s 9–11-day range. LSMGO delivery times remain steady, with most suppliers quoting 5–8 days, nearly unchanged from the previous week.

By Tuhin Roy

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