Singapore fuel oil stockpiles dip to 2-week low amid lower net imports

Reuters05-16

By Cassandra Yap

SINGAPORE, May 16 (Reuters) - Singapore's onshore fuel oil stockpiles dipped to a two-week low in the week ended May 15 as net imports dwindled, data showed on Thursday.

Inventories for fuel oil fell 7.89% to 19.115 million barrels (3.01 million metric tons), after hitting a three-week high in the week ended May 8, Enterprise Singapore data showed.

Total imports slumped 58% in the absence of Russian arrivals, while arrivals from top importers Malaysia and Brazil were about halved week-on-week.

Total exports also fell 39%, with most of the cargoes ending up in Hong Kong and Malaysia.

Net imports decreased by 591,431 tons, or 66% week-on-week to hit 305,349 tons, the lowest figure logged since the week ended March 20. The week ended March 13 recorded 65,695 tons of net imports.

The cash differential for 380-cst high sulphur fuel oil

were rangebound between $7.50 and $8.50 a ton, while the premium for 0.5% low sulphur fuel oil rose above $6 a ton.

Week to May 15, Fuel oil (in Total Total Net Imports

metric tons) Imports Exports

AUSTRALIA 0 31,349 -31,349

BRAZIL 100,688 0 100,688

BULGARIA 71,263 0 71,263

HONG KONG 0 73,376 -73,376

INDONESIA 29,524 6,681 22,843

JAPAN 71,790 0 71,790

KOREA, REP OF 20,601 0 20,601

MALAYSIA 153,800 68,596 85,204

MYANMAR 0 0 0

NEPAL 0 41 -41

NEW CALEDONIA 0 54,996 -54,996

NIGERIA 0 0 0

SPAIN 34,815 0 34,815

TAIWAN 20,696 0 20,696

UNITED ARAB EMIRATES 37,212 0 37,212

TOTAL 540,389 235,040 305,350

(Data from Enterprise Singapore)

(Reporting by Cassandra Yap; Editing by Sherry Jacob-Phillips)

((cassandra.yap@thomsonreuters.com))

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The week ended March 13 recorded 65,695 tons of net imports. </p><p>   The cash differential for 380-cst high sulphur fuel oil</p><p>  were rangebound between $7.50 and $8.50 a ton, while the premium for 0.5% low sulphur fuel oil    rose above $6 a ton. </p><p>Week to May 15, Fuel oil (in    Total        Total       Net Imports</p><p>metric tons)                    Imports      Exports     </p><p>AUSTRALIA                                 0      31,349      -31,349</p><p>BRAZIL                              100,688           0      100,688</p><p>BULGARIA                             71,263           0       71,263</p><p>HONG KONG                                 0      73,376      -73,376</p><p>INDONESIA                            29,524       6,681       22,843</p><p>JAPAN                                71,790           0       71,790</p><p>KOREA, REP OF                        20,601           0       20,601</p><p>MALAYSIA                            153,800      68,596       85,204</p><p>MYANMAR                                   0           0            0</p><p>NEPAL                                     0          41          -41</p><p>NEW CALEDONIA                             0      54,996      -54,996</p><p>NIGERIA                                   0           0            0</p><p>SPAIN                                34,815           0       34,815</p><p>TAIWAN                               20,696           0       20,696</p><p>UNITED ARAB EMIRATES                 37,212           0       37,212</p><p>TOTAL                               540,389     235,040      305,350</p><p>(Data from Enterprise Singapore)</p><p> (Reporting by Cassandra Yap; Editing by Sherry Jacob-Phillips)</p><p>((cassandra.yap@thomsonreuters.com))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore fuel oil stockpiles dip to 2-week low amid lower net imports</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Total imports slumped 58% in the absence of Russian arrivals, while arrivals from top importers Malaysia and Brazil were about halved week-on-week.    Total exports also fell 39%, with most of the cargoes ending up in Hong Kong and Malaysia.    Net imports decreased by 591,431 tons, or 66% week-on-week to hit 305,349 tons, the lowest figure logged since the week ended March 20. The week ended March 13 recorded 65,695 tons of net imports.    The cash differential for 380-cst high sulphur fuel oil  were rangebound between $7.50 and $8.50 a ton, while the premium for 0.5% low sulphur fuel oil    rose above $6 a ton. Week to May 15, Fuel oil (in    Total        Total       Net Importsmetric tons)                    Imports      Exports     AUSTRALIA                                 0      31,349      -31,349BRAZIL                              100,688           0      100,688BULGARIA                             71,263           0       71,263HONG KONG                                 0      73,376      -73,376INDONESIA                            29,524       6,681       22,843JAPAN                                71,790           0       71,790KOREA, REP OF                        20,601           0       20,601MALAYSIA                            153,800      68,596       85,204MYANMAR                                   0           0            0NEPAL                                     0          41          -41NEW CALEDONIA                             0      54,996      -54,996NIGERIA                                   0           0            0SPAIN                                34,815           0       34,815TAIWAN                               20,696           0       20,696UNITED ARAB EMIRATES                 37,212           0       37,212TOTAL                               540,389     235,040      305,350(Data from Enterprise Singapore) (Reporting by Cassandra Yap; Editing by Sherry Jacob-Phillips)((cassandra.yap@thomsonreuters.com))","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.5","shortVersion":"4.22.5","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2435625118"}