Fujairah bunker sales dropped by 12% in February
Lower sales across all grades contributed to drag Fujairah’s total bunker sales down by 12% in February, according to data compiled by Fujairah Oil Industry Zone (FOIZ) and S&P Global Commodity Insights.
Changes in Fujairah bunker fuel sales from January to February:
- Total sales down by 11% to 545,000 mt
- VLSFO sales down by 5% to 379,000 mt
- HSFO sales down by 23% to 141,000 mt
- LSMGO sales down by 25% to 24,000 mt
Fujairah’s bunker sales dropped to their lowest level since March 2023, averaging 19,500 mt/day in February, a decrease of around 450 mt/day compared to January.
HSFO sales saw a sharp decline of 42,000 mt, falling to 141,000 mt in February. This equates to daily sales of around 5,000 mt, down from 5,900 mt/day in January. LSMGO sales also decreased by 8,000 mt, reaching 24,000 mt for the month.
Meanwhile, VLSFO, the most in-demand bunker fuel, saw a reduction of around 21,000 mt in February.
Overall, Fujairah’s total bunker sales for the first two months of the year were 10% lower than in the same period last year.
Fuel grade share of total sales in February (compared to the year to date):
- 70% VLSFO 380cst (67% YTD)
- 0.13% VLSFO 180cst (0.24% YTD)
- 26% HSFO (28% YTD)
- 4% LSMGO (5% YTD)
- 0.05% of 0.50% MGO (0.03% YTD)
By Tuhin Roy
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