FUJAIRAH DATA: April bunker sales up 7.1% on month
Bunker fuel sales at the UAE’s Port of Fujairah in April rose 7.1% month on month, led by gains in low sulfur fuel oil and low sulfur marine gasoil.
Total sales rose to 679,338 cu m from 634,045 cu m in March, according to Fujairah Oil Industry Zone data provided exclusively on the S&P Global Platts website. It was the first rise in at least two months.
Singapore, the world’s largest bunkering hub, saw a 1.4% rise in April sales on the month, led by a 9.9% gain in high sulfur bunker fuel. However, the Asian port’s figures are not directly comparable since Singapore bunker sales are by weight in mt.
Low sulfur marine gasoil sales up 34.7% High sulfur marine fuel share shrinks Traders were mostly surprised at gains Bunker fuel sales at the UAE's Port of Fujairah in April rose 7.1% month on month,
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Total sales fell to 634,045 cu m from 637,585 cu m in February, according to April 20 data from the Fujairah Oil Industry Zone provided exclusively to S&P Global Platts. Sales in February dropped 6.2% from January, the first month of data available.
Front month ICE Brent futures surged to a near 22-month high of $70.05/b on March 8, while it averaged $65.82/b in March, up $3.73/b from February, Platts data showed. Even though compared with a shorter month in February, Singapore by contrast showed a 1.9% rise in March sales on the month, led by a 3.9% jump in low sulfur bunker sales. Singapore is not directly comparable, however, since it reports bunker sales by weight in mt.