Singapore's fuel oil reserves decreased by 7% in October compared to September, averaging 18.36 million barrels. According to new data from Enterprise Singapore, this decrease is equivalent to 1.39 million barrels.
Changes in Fuel Oil Reserves and Intermediate Products
Intermediate product reserves also increased during this period, reaching 9.88 million barrels, indicating a rise of 1.40 million barrels. However, fuel oil reserves have dropped to below 19 million barrels, while net fuel oil imports increased by 12% during the same period.
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Fuel oil imports in October decreased by 176,000 barrels compared to September, reaching 4.94 million barrels. Additionally, fuel oil exports also fell by 575,000 barrels to 1.26 million barrels. As a result, net fuel oil imports increased by 399,000 barrels to 3.68 million barrels.
Fuel Supply Situation and Its Impacts
The fuel supply situation in Singapore remains under pressure, with the delivery time for VLSFO (Very Low Sulfur Fuel Oil) increasing to 11 to 18 days, compared to 10 to 15 days last week. Many suppliers are operating with low inventories, and delays in shipment arrivals due to ongoing conflicts in the Middle East have further restricted fuel availability.
At the same time, the availability of HSFO (High Sulfur Fuel Oil) has also decreased, with proposed delivery times extending to 11 to 17 days. However, LSMGO (Low Sulfur Marine Gas Oil) is relatively more available, although its delivery time has also increased to 6 to 9 days.
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