Singapore’s residual fuel oil stocks have averaged 4% lower so far in October than across September, Enterprise Singapore’s latest data shows.

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

• Residual fuel oil stocks down 900,000 bbls to 23.92 million bbls
• Middle distillate stocks up 80,000 bbls to 9.79 million bbls

Singapore’s fuel oil inventories have dropped below 24 million bbls amid a 22% fall in the port’s net fuel oil imports so far this month. Imports have declined by 101,000 bbls, while exports have risen sharply by 606,000 bbls.

In contrast, middle distillate stocks at the port have averaged 1% higher so far this month.

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

• Fuel oil imports down 101,000 bbls to 5.15 million bbls
• Fuel oil exports up 606,000 bbls to 2.70 million bbls
• Fuel oil net imports down 707,000 bbls to 2.45 million bbls

In Singapore, prompt availability of all grades remains very tight. VLSFO lead times continue to fluctuate widely. Some suppliers can deliver in seven days, while others recommend booking up to three weeks in advance.

HSFO and LSMGO supply has also tightened, with lead times of around 7-11 days and around six days, respectively. Some LSMGO suppliers may require more than two weeks.

By Shilpa Sharma

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