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Marine gas gross sales on the UAE’s Fujairah, the world’s third-largest bunker hub, scaled eight-month highs in August, though volumes remained decrease from a year-ago interval, knowledge confirmed.
Bunker gross sales at Fujairah present a gauge of transport market sentiment within the Center East.
August bunker gross sales, excluding lubricants, had been at 677,503 cubic metres, or about 671,000 metric tons, up 2.7% month-on-month however down 6.3% from the identical month final yr, in keeping with the Fujairah Oil Trade Zone (FOIZ) knowledge, which is revealed by S&P World Commodity Insights.
The uptick in August was pushed by a climb in high-sulphur bunker gross sales, which rose 12.7% month-on-month to 196,343 cubic meters, or about 195,000 metric tons.
Enticing reductions of delivered 380-cst HSFO bunker gas versus cargo quotes may have spurred uptake in August, primarily based on pricing knowledge supplied by trade sources.
Low-sulphur bunker gross sales of residual fuels and marine gasoils final month totalled 481,160 cubic meters, or about 477,000 metric tons, dipping 0.9% from ranges seen in July.
This introduced the market share of low-sulphur bunkers all the way down to 71% from 74%, and of high-sulphur bunkers up at 29% from 26%, in contrast with final month.
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