Residual fuel oil stocks in Singapore averaged 3% lower in October than in September, data from Enterprise Singapore shows.

Changes in monthly average Singapore stocks from September to October:

• Residual fuel oil stocks down 690,000 bbls to 24.14 million bbls
• Middle distillate stocks down 240,000 bbls to 9.48 million bbls

Singapore’s fuel oil inventories stayed below 25 million bbls in October amid a 4% drop in the port’s net fuel oil imports. Imports increased by 501,000 bbls, which was less than the 631,000-bbl rise in exports. 

During the month, most of the incoming fuel oil cargoes originated from Russia (17%), Malaysia (10%) and Brazil (9%). On the export side, the bulk of shipments went to China (38%), South Korea (22%) and Malaysia (11%).

The port’s middle distillate inventories also declined, averaging 2% lower than in the previous month.

Changes in monthly average Singapore fuel oil trade from September to October:

• Fuel oil imports up 501,000 bbls to 5.76 million bbls
• Fuel oil exports up 631,000 bbls to 2.73 million bbls
• Fuel oil net imports down 131,000 bbls to 3.03 million bbls

VLSFO lead times in Singapore remain highly uneven despite muted demand this week. Some suppliers can deliver within four days, while others require over two weeks’ notice due to congested delivery schedules.

LSMGO lead times now range between 4–9 days, compared with about six days last week, while HSFO deliveries still need 6–11 days, showing little change week on week.

By Tuhin Roy

Please get in touch with comments or additional info to news@engine.online