Heather Webb is the USA Today bestselling and award-winning author of seven historical novels. Order your copy of The Next Ship Home from Mac’s Backs – Books on Coventry: /book/9781728258256 So far this month through May 15, the premium has dropped to $8.48/mt, S&P Global data show.ĭespite the lower premiums, traders said the nearby port at Sharjah's Khor Fakkan in the UAE has been pricing HSFO below Fujairah, putting demand in Fujairah at risk.Īmong other bunker products, sales of low sulfur marine gasoil slipped 18.3% year on year to 26,738 cu m for April, up 0.7% from March, the FOIZ data show.This event will be broadcast live on Zoom. Registration and an email address are required to receive the link to participate.
The Platts Fujairah-delivered marine fuel 0.5% sulfur premium over the benchmark FOB Singapore marine fuel 0.5% sulfur cargo assessments averaged $11.34/mt in April, up from $8.81/mt in March. The temporary shutdown of both crude distillation units at Kuwait's Al-Zour refinery, which had been supplying LSFO to the Fujairah market, did not provide much support to Fujairah sales due to "lukewarm" demand and ample inventories, UAE-based traders said. Low sulfur fuel oil sales, with a maximum of 0.5% sulfur content and inclusive of both the 180 CST and 380 CST grades, totaled 442,392 cu m in April, down 13.9% on the year and 2.1% lower than in March, the FOIZ data show. HSFO can be used by shippers by using scrubbers that reduce the sulfur quantity to no more than 0.5%, meeting 2020 International Maritime Organization rule. Rising demand from the scrubber-fitted tanker segment contributed significantly to HSFO sales, local bunker suppliers said. Traders also noted some large orders filled in the second half of April, although demand has since steadied for May so far. The premium has since widened to $35.23/mt May 2-15. HSFO sales at Fujairah jumped 56.6% on the month to 126,943 cu m in April, up 8.9% from a year earlier, the FOIZ data showed.ĭemand was buoyed by relatively lower prices, with the Platts Fujairah-delivered 380 CST HSFO bunker premium over the FO 380 CST 3.5% FOB Arab Gulf cargo assessments down to an average of $28.81/mt in April from $45.26/mt in all of March, S&P Global data show. Singapore and Rotterdam are the world's largest bunker suppliers. The total was still down 10.4% from a year earlier.
The total was up for the first time in four months after hitting 563,275 cu m in March, the lowest since FOIZ began providing the data to S&P Global in January 2021. Receive daily email alerts, subscriber notes & personalize your experience.
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