Total sales of bunker fuel at the UAE’s Fujairah in February fell 6.2% on the month to 637,585 cu m, with 380 CST low sulfur fuel oil making up the bulk of the volume, according to a March 23 statement and data from the Port of Fujairah, S&P Global Platts and the Fujairah Oil Industry Zone (FOIZ).
Fujairah is working with Platts to publish the data monthly, with figures from the previous month to be reported on the 20th of every month and history starting in January 2021, according to the statement.
The total was 679,970 cu m in January. Fujairah has also exclusively provided oil products inventory on a weekly basis to Platts since January 2017.
“Adding additional data sets shall enhance the visibility on trade and volume handled in Fujairah,” Salem Al Hmoudi, FOIZ director, said in the statement. “Transparency and market clarity are key ingredients of successful liquid trading centers around the world.”
Fujairah has capacity to handle and process over 120 million mt/year of crude oil and refined products. The port helps facilitate the export of Abu Dhabi National Oil Co.’s flagship Murban crude through three single point mooring systems located in the Fujairah anchorage area, with the crude carried to Fujairah along a 360-km pipeline that has a 1.5 million b/d capacity. In addition, ADNOC is constructing a 42 million barrel underground crude storage facility in Fujairah, creating the world’s largest underground oil storage site.
February sales of 380 CST low sulfur fuel oil dropped 11% on the month to 494,037 cu m, accounting for 77% of the total, while February sales of 380 CST marine fuel oil, or high sulfur fuel oil, jumped 28% on the month to 114,295 cu m. Marine gasoil sales more than doubled to 3,499 cu m.
Singapore, the world’s largest bunkering hub, and Rotterdam also report bunker sales. Singapore’s February bunker sales were 4.12 million mt, down 9% from January, according to the Maritime and Port Authority of Singapore. The Port of Rotterdam reports sales on a quarterly basis in cu m.
Fujairah’s low sulfur marine gasoil sales in February stood at 19,399 cu m, down 25% from the previous month.
Fujairah-delivered low sulfur marine gasoil averaged $66.36/mt higher than marine fuel 0.5% sulfur bunker in February. That compared with a premium of $61.90/mt in January and $66.71/mt in December, S&P Global Platts data showed. Platts has published independent refined product prices on an FOB Fujairah basis since October 2016.
Source: Platts
