Singapore fuel oil stocks rise, but VLSFO stems stay tight
What it means for buyers
For Singapore calls, book VLSFO well ahead - stock builds have not shortened the lead time.
Enterprise Singapore data show residual fuel oil inventories in Singapore averaging above the August level through September to date. On a monthly average basis, stocks have moved back above twenty million barrels, helped by stronger net fuel oil imports this month. Middle distillate inventories have also edged up versus August.
Even with that rebuild, conventional bunker coverage in the hub is still uneven by grade. Very low sulphur fuel oil remains the hardest to secure on short notice, with recommended lead times still near the two-week mark and barely changed from the prior week. High sulphur fuel oil availability has eased a little, and low sulphur marine gasoil lead times have narrowed as well.
Operators planning a Singapore stem should treat the inventory headline and the stem queue as separate signals. Higher terminal stocks have not yet translated into prompt VLSFO windows. Allow the longer notice for VLSFO, and keep HSFO and LSMGO timing aligned with the shorter advised windows rather than assuming all grades move together.
Sources
- Sea and Job seaandjob.com
Roadstead is a bunker broker. We arrange supply through suppliers we have checked and do not run our own barges.
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