Singapore’s residual fuel oil stocks averaged 5% higher in August than across July, according to Enterprise Singapore.

Changes in monthly average Singapore stocks from July to August:

• Residual fuel oil stocks up 1.11 million bbls to 25.22 million bbls
• Middle distillate stocks up 590,000 bbls to 9.37 million bbls

Singapore’s fuel oil inventories rose above 25 million bbls in August, supported by a 5% increase in net imports. Imports declined by 179,000 bbls, a smaller drop compared to the 341,000-bbl decrease in exports.

The largest share of imports came from the UAE (11%), followed by Indonesia and Brazil (both at 7%), data from cargo tracker Vortexa shows. On the export side, most volumes were shipped to China (42%), South Korea (16%) and Malaysia (13%).

Meanwhile, Singapore’s middle distillate stocks also rose, averaging 7% higher in August compared with July.

Changes in Singapore fuel oil trade from July to August:

• Fuel oil imports down 179,000 bbls to 6.17 million bbls
• Fuel oil exports down 341,000 bbls to 2.54 million bbls
• Fuel oil net imports up 163,000 bbls to 3.64 million bbls

In Singapore, lead times for VLSFO deliveries have extended to 8–11 days, slightly up from 7–10 days last week. HSFO availability remains steady, with lead times of 7–11 days.

LSMGO supply has tightened, with lead times increasing to 4–9 days from 4–5 days earlier.

By Tuhin Roy

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