Singapore fuel oil stocks fall 7% despite rise in net imports

Singapore’s residual fuel oil stocks have averaged 7% 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 1.39 million bbls to 18.36 million bbls
• Middle distillate stocks up 1.40 million bbls to 9.88 million bbls

Singapore’s fuel oil stocks have slipped below 19 million bbls, despite a 12% increase in net fuel oil imports so far in October. Fuel oil imports have decreased by 176,000 bbls, while exports have declined more sharply by 575,000 bbls.

Meanwhile, Singapore’s middle distillate inventories have increased by 17% so far this month to 9.88 million bbls.

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

• Fuel oil imports down 176,000 bbls to 4.94 million bbls
• Fuel oil exports down 575,000 bbls to 1.26 million bbls
• Fuel oil net imports up 399,000 bbls to 3.68 million bbls

Bunker supply in Singapore remains tight, with VLSFO lead times extending to 11–18 days, from 10–15 days a week earlier. Most suppliers continue to operate with low stocks, while delays in cargo arrivals due to the ongoing conflict in the Middle East have further tightened availability, according to a Singapore-based source.

HSFO availability has also tightened, with recommended lead times increasing to 11–17 days from 10–15 days a week ago. LSMGO remains relatively more readily available, although lead times have edged up to 6–9 days, from 5–7 days previously.

By Shilpa Sharma

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