Zhoushan and Singapore bunker prices climb as lead times stay long

Bunker prices moved higher at the three major East of Suez hubs on 16 October, according to an ENGINE market update. VLSFO, LSMGO and HSFO all rose at Zhoushan, Singapore and Fujairah. Zhoushan posted the largest daily VLSFO gain of the three. VLSFO there climbed faster than HSFO, so the gap between the two grades widened, which means ships with scrubbers save more by burning HSFO.

Supply at Zhoushan is still tight. Several suppliers say their stocks are low, and a source quoted by ENGINE puts recommended lead times at around 11 days for VLSFO, LSMGO and HSFO.

In Singapore, VLSFO lead times now run 11-18 days and HSFO about 11-17 days, up from 10-15 days a week earlier. LSMGO is easier to get, at around 6-9 days. A separate ENGINE report shows Singapore residual fuel oil stocks averaging 7% lower in October so far than in September, even though net fuel oil imports rose. Most suppliers are still working with low stocks, and cargo arrivals have been delayed by the conflict in the Middle East.

If a vessel is due at Zhoushan or Singapore in the next two to three weeks, send the enquiry now rather than a few days before arrival. Where the schedule allows, LSMGO has the shortest wait in Singapore. Fixing VLSFO and HSFO early also limits exposure if prices keep rising.