Vessel Bunker Fuel Sales Hit 3-Month High in Fujairah

Marine fuel sales at the United Arab Emirates' Fujairah recovered to a three-month high in July, latest data showed.

Sales volumes at the world's third-largest bunkering port, excluding lubricants, totalled 621,679 cubic metres (about 616,000 metric tons), based on Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights.

The bunker sales inched 1.8% higher in July after sliding for three consecutive months, but were down 5.7% from the same month last year.

Broader refuelling demand picked up at key bunker ports such as Singapore and Fujairah after crude and bunker prices trended lower throughout July.

Fujairah's high-sulphur fuel oil sales climbed 18.3% from June to 177,349 cubic metres in July, FOIZ data showed, while low-sulphur bunker sales inched 3.6% down to 444,330 cubic metres, counting both residual fuels and marine gasoils.

The market share of low-sulphur bunkers narrowed to 71% in July, while that of high-sulphur bunkers widened to 29%.

(Reuters)