Singapore’s fuel oil stocks dropped 2% in September
Singapore’s residual fuel oil stocks averaged 2% lower in September than across August, according to Enterprise Singapore.
Changes in monthly average Singapore stocks from August to September:
- Residual fuel oil stocks down 400,000 bbls to 24.83 million bbls
- Middle distillate stocks up 340,000 bbls to 9.72 million bbls
Singapore’s fuel oil inventories remained above 24 million bbls in September, despite a 13% fall in the port's net fuel oil imports.
Imports declined by 919,000 bbls, while exports decreased by 437,000 bbls.
In contrast, Singapore’s middle distillate stocks rose, averaging 4% higher in September compared with August.
Changes in Singapore fuel oil trade from August to September:
- Fuel oil imports down 919,000 bbls to 5.26 million bbls
- Fuel oil exports down 437,000 bbls to 2.10 million bbls
- Fuel oil net imports down 482,000 bbls to 3.16 million bbls
Securing very prompt bunker deliveries can be difficult in Singapore. Lead times of 7-10 days are recommended for VLSFO and 8-10 days for HSFO. Lead times for LSMGO have increased to 4-8 days from 3-6 days last week.
By Shilpa Sharma
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