Fujairah Bunker Sales Hit 5-Month Low in November | Mariner News
Fujairah, a crucial Middle Eastern hub, witnessed a significant dip in its bunker sales for November, marking a five-month low. Total maritime fuel volumes, excluding lubricants, reached 578,197 cubic meters, according to data from the Fujairah Oil Industry Zone and S&P Global Commodity Insights. This represents a 4.6% year-on-year decrease and a 7.3% drop from October, signalling a broader trend in shipping fuel demand. This consistent decline for the third consecutive month raises questions about current market conditions and vessel bunkering activity in the region.
Analyzing November’s Fuel Sales Decline
The overall slump in Fujairah bunker sales was primarily driven by reduced demand for very low sulphur fuel oil (VLSFO). Sales of 380 CST VLSFO dropped by 9.9% year-on-year to 360,469 cubic meters, also seeing a 6.8% decrease from the previous month. While 180 CST VLSFO volumes showed a slight month-on-month increase, they were down substantially by 28.8% year-on-year. These figures reflect shifting purchasing patterns within the shipping industry, potentially influenced by global economic factors or vessel routes.
HSFO and MGO Market Shifts
In contrast to VLSFO, high sulphur fuel oil (HSFO) showed resilience, accounting for 32.2% of total November sales, up from 29.2% a year prior. Specifically, 380 CST HSFO sales increased by 5.1% year-on-year to 186,245 cubic meters, suggesting steady demand for this segment of marine fuel. Moreover, MGO sales saw a remarkable 104.2% jump, alongside a 10.7% rise in low sulphur marine gas oil (LSMGO). These varied trends highlight the complex dynamics of the Fujairah maritime fuel market, with some segments experiencing growth despite the overall downturn.
