UAE's Fujairah March marine bunker sales hit highest in more than a year
(Reuters) - Marine bunker fuel sales at the United Arab Emirates' Fujairah port hit their highest in more than a year in March, buoyed by firmer global refueling demand after Red Sea shipping disruptions, the latest data showed.
March bunker sales, excluding lubricants, totaled 700,918 cubic meters (about 694,000 metric tons), based on Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights.
Sales for March climbed 10.7% from February and were up 25.2% from the same month last year, posting a third straight month of yearly increases in 2024 after declining annually for every month in 2023.
Total sales for the first quarter of 2024 reached about 2 million tons, up nearly 14% from the same quarter in 2023, in line with stronger quarterly sales at the world's largest bunker hub Singapore.
Low-sulfur bunker sales of residual fuels and marine gasoils totaled 502,645 cubic meters at Fujairah in March, up 14.1% from February.
Meanwhile, high-sulfur bunker sales climbed 2.9% from February to 198,273 cubic meters in March.
The market share of low-sulfur bunkers was at 72% while high-sulfur bunkers was at 28%.
Red Sea shipping disruptions have spurred ships to refuel more at key bunker hubs this year.
Fujairah bunker sales by month, in cubic meters, excluding lubricants:
|
Month |
Total Sales |
M-o-M |
Y-o-Y |
|
Jan-23 |
633,023 |
-8.8% |
-2.0% |
|
Feb-23 |
572,371 |
-9.6% |
-6.5% |
|
Mar-23 |
559,800 |
-2.2% |
-19.0% |
|
Apr-23 |
596,330 |
6.5% |
-10.3% |
|
May-23 |
620,388 |
4.0% |
-16.7% |
|
Jun-23 |
605,374 |
-2.4% |
-6.5% |
|
Jul-23 |
659,566 |
9.0% |
-0.8% |
|
Aug-23 |
677,503 |
2.7% |
-6.3% |
|
Sep-23 |
628,639 |
-7.2% |
-5.9% |
|
Oct-23 |
654,153 |
4.1% |
-0.1% |
|
Nov-23 |
610,498 |
-6.7% |
-4.1% |
|
Dec-23 |
658,638 |
7.9% |
-5.1% |
|
Jan-24 |
674,632 |
2.4% |
6.6% |
|
Feb-24 |
633,436 |
-6.1% |
10.7% |
|
Mar-24 * |
700,918 |
10.7% |
25.2% |
Monthly bunker sales by grade, in cubic meters:
|
Month |
180cst LSFO |
380cst LSFO |
380cst HSFO |
MGO |
LSMGO |
Lubricants |
|
Jan-23 |
300 |
453,703 |
151,055 |
796 |
27,169 |
4,039 |
|
Feb-23 |
545 |
389,544 |
159,908 |
713 |
21,661 |
4,549 |
|
Mar-23 |
250 |
451,405 |
81,058 |
538 |
26,549 |
3,475 |
|
Apr-23 |
480 |
441,912 |
126,943 |
257 |
26,738 |
4,270 |
|
May-23 |
170 |
468,635 |
126,586 |
2,021 |
22,976 |
4,723 |
|
Jun-23 |
573 |
449,264 |
127,573 |
1,088 |
26,876 |
4,732 |
|
Jul-23 |
1,272 |
459,665 |
174,227 |
1,387 |
23,015 |
4,151 |
|
Aug-23 |
- |
450,420 |
196,343 |
459 |
30,281 |
4,587 |
|
Sep-23 |
- |
425,942 |
172,945 |
1,688 |
28,064 |
3,944 |
|
Oct-23 |
792 |
449,652 |
164,107 |
1,699 |
37,903 |
4,499 |
|
Nov-23 |
513 |
407,503 |
171,438 |
2,430 |
28,614 |
4,305 |
|
Dec-23 |
2,409 |
457,756 |
167,321 |
685 |
30,467 |
4,414 |
|
Jan-24 |
341 |
436,604 |
207,124 |
122 |
30,441 |
4,372 |
|
Feb-24 |
1,000 |
407,799 |
192,753 |
210 |
31,674 |
4,420 |
|
Mar-24 * |
924 |
463,245 |
198,273 |
321 |
38,155 |
5,171 |
Data source: Fujairah Oil Industry Zone data published by S&P Global Commodity Insights
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