Singapore’s fuel oil stocks decline 9%

Singapore’s residual fuel oil stocks have averaged 9% lower in May so far than in April, Enterprise Singapore’s latest data shows.

Changes in monthly average Singapore stocks from April to May:

• Residual fuel oil stocks down 1.96 million bbls to 19.88 million bbls
• Middle distillate stocks down 110,000 bbls to 10.08 million bbls

Fuel oil inventories in Singapore have averaged below 20 million bbls in May so far amid a sharp fall in the port’s net fuel oil imports. Exports have declined by 835,000 bbls, while imports have more than halved.

The port’s middle distillate inventories have averaged 1% lower so far this month, at 10.08 million bbls.

Changes in Singapore fuel oil trade from April to May:

• Fuel oil imports down 2.58 million bbls to 2.48 million bbls
• Fuel oil exports down 835,000 bbls to 1.64 million bbls
• Fuel oil net imports down 1.74 million bbls to 841,000 bbls

Bunker fuel availability across all grades remains tight in Singapore. VLSFO delivery requires lead times 9-18 days, while HSFO needs around 4-10 days. LSMGO availability has tightened as well, with recommended lead times of 5-9 days.

By Shilpa Sharma

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