Singapore’s residual fuel oil stocks have averaged 5% higher so far this month than across August, Enterprise Singapore’s latest data shows.

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

• Residual fuel oil stocks up 1.30 million bbls to 26.53 million bbls
• Middle distillate stocks up 489,000 bbls to 9.86 million bbls

Singapore’s fuel oil inventories have surpassed 26 million bbls, achieving multi-year highs.

So far in September, the port has recorded a 3% increase in net fuel oil imports. Both imports and exports declined during this period, with imports falling by 1.37 million bbls, compared to a larger 1.49 million-bbl drop in exports.

Most of Singapore’s fuel oil imports this month have come from Russia (14%), followed by Malaysia (12%) and Kuwait (10%), according to cargo tracker Vortexa. On the export side, the bulk of shipments have headed to Malaysia (35%) and China (32%), with South Korea (16%) also receiving a significant share.

The port’s middle distillate stocks have risen by 5% this month to 9.86 million bbls, their highest level since June.

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

• Fuel oil imports down 1.37 million bbls to 4.80 million bbls
• Fuel oil exports down 1.49 million bbls to 1.04 million bbls
• Fuel oil net imports up 123,000 bbls to 3.76 million bbls

Bunker demand in Singapore has been strong so far this week, a source said. VLSFO delivery times now vary widely depending on the supplier — some can fulfil orders within eight days, while others require nearly two weeks of advance booking. This is tighter compared to last week’s range of 8–11 days.

HSFO availability has also narrowed, with lead times stretching to 8–12 days, up from 7–11 days a week earlier. LSMGO supply remains tight as well, with delivery windows increasing to 5–10 days from 4–9 days previously.

By Tuhin Roy

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