Since January 2017, the Port of Fujairah, supported by S&P Global Platts, has been reporting on a weekly basis the stock levels of refined oil products held in tanks at the port. In March of this year, the port launched monthly vessel fuel sales reports, bringing new transparency to the sales data at the world’s third largest oil trading hub.
What is bunker fuel?
Bunker fuel is the fuel that goes into a ship and there are various types of bunker fuel used by ships. These fuels can either be fuel oil, or middle distillate-based, such as gasoil or diesel, and are typically sold depending on their sulfur content and viscosity.
Why are different bunker fuels used?
The sulfur content of the bunker fuel used by a ship depends on whether the vessel has an exhaust scrubber, which removes the sulfur emissions, or if it does not. Since the start of 2020 a new global sulfur cap means that vessels can only burn fuel with a maximum sulfur content of 0.5% if they do not have a scrubber.
How is bunker fuel sold to ships?
Bunker fuel is typically sold to ships on a delivered basis, which involves a smaller bunker barge coming alongside the receiving vessel to discharge the fuel into its bunker tanks.
Where are the main bunkering ports in the world?
Bunkers are sold at ports globally, but there are key bunkering hubs, which tally with global oil trading centers. In Europe, it’s Rotterdam, in Asia it’s Singapore and in the Middle East it’s Fujairah.
What bunker sales data does Fujairah issue each month?
Bunker sales data at Fujairah is split into six categories: 380 CST low sulfur fuel oil sales and 180 CST low sulfur fuel oil sales, both of which are IMO 2020 compliant fuels. 380 CST marine fuel oil sales, which is fuel for vessels with scrubbers. There are two marine gasoil sales categories – low sulfur marine gasoil and marine gasoil – and there is also a category for lubricant sales. Bunker sales reporting for the Port of Fujairah started in March 2021, with data for January to June of this year now available.
Which is the most popular bunker fuel sold in Fujairah?
380 CST low sulfur marine fuel oil sales account for over three-quarters of bunker fuel sold at the port with 517,248 cubic meters of the fuel sold on average each month between January and June of this year. The second most popular fuel at the port is 380 CST marine fuel oil, which
accounts for less than a fifth as sales average 112,390 cu m over the same time period. Total bunker sales at the port averaged 662,631 cu m through the first half of this year.
We can see from the data that the switch to lower sulfur fuels has been swiftly made as the industry has adjusted to the new sulfur regulations. However, as more scrubbers are installed in ships in the coming years, there could be an increase in 380 CST marine fuel oil sales as a percentage of total sales.
What is the refined product stock reporting that is done at the Port of Fujairah?
Since the start of 2017, stock levels of refined oil products held in tanks at the Port of Fujairah have been reported on a weekly basis across three stock categories: light distillates, middle distillates, and heavy residues.Â
The weekly stock data gives a dynamic update of storage activity at the port, with total stocks having averaged 21,640 million barrels through the year up to the week of July 19. Fuel oil is the most popular stored fuel at the port, making up 52% of total stocks so far this year. Last year, total stocks at the port hit a record high when the 30-million-barrel mark was breached for a number of weeks in June.
