Bunker fuel sales in Fujairah have significantly decreased in August 2023, averaging 7,100 tons per day. This 3% decrease compared to July is attributed to a notable drop in demand for Heavy Fuel Oil (HSFO).
Details of Fuel Sales in August 2023
Bunker fuel sales in Fujairah in August were recorded at an average of 7,100 tons per day, which is a reduction of about 200 tons per day compared to the previous month. This decrease follows a significant increase in sales in July, which was the first increase after five consecutive months of decline.
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HSFO sales in August have sharply decreased to 58,000 tons, reflecting a drop of about 12,000 tons compared to July. Daily HSFO sales have fallen to 1,900 tons per day, a significant decrease compared to 2,200 tons per day in July.
Increase in VLSFO and LSMGO Sales
In contrast, VLSFO sales, which are typically the most in-demand type of bunker fuel, have seen an increase of nearly 6,000 tons this month. Additionally, LSMGO sales also increased by about 1,600 tons to reach 15,000 tons in August.
Overall, total bunker fuel sales in Fujairah in the first eight months of 2023 reached 2.07 million tons, indicating a severe 57% decrease compared to the same period last year. This significant drop in sales clearly has negative impacts on the bunker fuel market in this region.
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