LSFO

Zhoushan Bunkering Volume Up 9.1% on Year To 6.02 Million Mt in 2022

Credit: Shaah Shahidh/Unsplash

Bunker sales volume at the port of Zhoushan, Zhejiang in China increased 9.1% on year to reach 6.02 million metric tonnes (mt) in 2022, according to Chinese media Zhejiang Online, says an article published on Manifold Times.

Bonded fuel bunkering centers

“Zhoushan continues to lead the development of bonded fuel bunkering centers in Northeast Asia, which has become the region with the largest bonded oil supply volume, fastest growth rate, most active competition, and...

https://mfame.guru/zhoushan-bunkering-volume-up-9-1-on-year-to-6-02-million-mt-in-2022/

Fujairah 2022 Bunker Fuel Sales Down By 1.5% y/y

Credits: Emiel Molenaar/Unsplash

Sales of marine fuels, also known as bunkers, eased 1.5% year-on-year to about 7.7 million tonnes in 2022 at the United Arab Emirates’ Fujairah, the world’s third largest bunkering hub, reports Reuters.

LSFO sales dip

Bunker sales from January to December 2022, excluding lubricants, were at 8,049,364 cubic metres, data from the Fujairah Oil Industry Zone published by industry information service provider S&P Global Commodity Insights, showed.

The lower annual sales...

https://mfame.guru/fujairah-2022-bunker-fuel-sales-down-by-1-5-y-y/

China Issues First Batch Of 2023 Oil Product Export Quotas at 27 Mil Wt

Credit: david-thielen-unsplash
  • Clean oil product export quota up 46% on year
  • Quota hike unlikely to tell clean product exports trend: S&P Global
  • LSFO export quota up 23% on year

The Chinese government has issued around 18.99 million mt (151 million barrels) of export quotas for clean oil products and 8 million mt (50.8 million barrels) for fuel oil in its first batch for 2023, several sources with knowledge of the matter told S&P Global Commodity Insights Jan. 3.

Fuel oil export quotas

The clean...

https://mfame.guru/china-issues-first-batch-of-2023-oil-product-export-quotas-at-27-mil-wt/

Incremental Supplies, Sluggish Demand To Weigh on Asia LSFO Market

Credit: Erik Mclean/Unsplash
  • Sluggish container shipping market may impede bunker demand
  • China’s economic recovery may lend support to the market
  • Any significant upside may be capped by incremental supply

The Asian low sulfur fuel oil market is expected to face headwinds in 2023 on dull demand amid rising supply, reports SP Global.

China wildcard

Asia low sulfur market participants are cautiously optimistic while watching developments in China since it has lifted its most severe COVID-19 measures.

https://mfame.guru/incremental-supplies-sluggish-demand-to-weigh-on-asia-lsfo-market/

Oil Stocks Climb 7% on Week, Capping Record Annual Gain

Credits: Ronan Furuta/Unsplash
  • Total rises 29% for year
  • Light distillates lead gains for year
  • Heavy distillates drop 3.3% on week

Oil product stockpiles at the UAE’s Port of Fujairah rose 7.1% in the week ended Dec. 26, capping a record annual gain, according to Fujairah Oil Industry Zone data published Dec. 28, reports Platts.

Total inventories were 20.669 million barrels as of Dec. 26, the highest in two weeks, the FOIZ data provided exclusively to S&P Global Commodities Insights showed.

The...

https://mfame.guru/oil-stocks-climb-7-on-week-capping-record-annual-gain/

LNG Bunkering Market to Reach US$ 417.8 Mn by 2031

Significant adoption in bulk and general cargo fleets is prompted by strict rules on emissions in the industry. Growing demand for LNG bunkering helps shipping industry operators cut carbon emissions.

Increased demand

The use of low-sulfur fuel oil is key to the shipping industry’s growing supply and consumption of bunkering fuel. From 2022 to 2031, the LNG bunkering market is anticipated to grow at a CAGR of 6.5%. The introduction of restrictions to reduce airborne emissions from ships and...

https://mfame.guru/lng-bunkering-market-to-reach-us-417-8-mn-by-2031/

Bunker Sales Rose 3.1% Over The Previous Year In August

  • Gain in low sulfur sales on month surprised traders
  • Fuel oil bunker sales highest since May
  • HSFO outperforms LSFO

A recent news article published in the Platts news source states that the August bunker sales climb 2.9% on year to 3-month high.

UAE’s Port of Fujairah

Ship fuel sales at the UAE’s Port of Fujairah, the world’s third-biggest bunkering hub, climbed 2.9% in August on the year even after floods disrupted operations.

Total sales were 728,287 cubic meters, 8.7% higher than in July,...

https://mfame.guru/bunker-sales-rose-3-1-over-the-previous-year-in-august/

Key Indicators in the Asia Residual Fuel Market This Week

Singapore’s bunker suppliers said on May 31 they were expecting to see a slight recovery in demand for low sulfur fuel oil in June, as Singapore’s delivered prices have fallen back below those in the Chinese port of Zhoushan since mid-May, reports Platts.

“The segment of dry bulk vessels and tankers running fixed routes would at least make up the base demand,” a Singapore-based trader said.

“However, oversupply [of marine fuel 0.5%] in China remains a concern,” he added.
High sulfur fuel oil...

https://mfame.guru/key-indicators-in-the-asia-residual-fuel-market-this-week/

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