Marine Fuel Sales in Fujairah Hit Record Lows in February
Marine fuel sales in the United Arab Emirates’ Fujairah, the world’s third-largest bunkering hub, fell in February to their lowest since data started being published in 2021.
Volumes, excluding lubricants, totalled 554,117 cubic metres (about 549,000 metric tons) for February, according to the latest Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights.
The decline reflects slower refueling demand at key bunker ports in the year so far, against a backdrop of global shipping uncertainty. Sales at top bunker port Singapore also softened recently, hitting its lowest in 20 months.
Volumes at Fujairah fell month-on-month for the key bunker grades, the FOIZ data showed.
Sales of 380-cst high-sulfur marine fuel dipped 2% from January to about 143,000 cubic metres in February, while low-sulfur marine fuel sales, including low-sulfur fuel oils and marine gas oils, fell 7.2% to about 412,000 cubic metres.
Some demand was diverted to other ports in the region including Khor Fakkan and Jebel Ali, offering more competitive prices in some instances, a Dubai-based trading source said.
The market share of high-sulfur bunkers narrowed to 26% in February, compared with 29% in January. Low-sulfur bunkers’ share widened to 74% versus 71%.
Fujairah Bunker Sales Data:
| Month | Total Sales | Month-on-Month | Year-on-Year |
|---|---|---|---|
| Jan-25 | 628,663 | 3.7% | -6.8% |
| Feb-25 * | 554,117 | -11.9% | -12.5% |
Breakdown of Volumes by Grade for Jan-25:
| 180cst LSFO | 380cst LSFO | MGO | LSMGO | 380cst HSFO | Lubricants |
|---|---|---|---|---|---|
| 702 | 382,303 | 341 | 28,176 | 142,595 | 4,183 |
Data source: Fujairah Oil Industry Zone data published by S&P Global Commodity Insights
(1 cubic meter = 6.29 barrels)
(1 metric ton = 6.35 barrels for fuel oil)
Overall, the decrease in marine fuel sales in Fujairah highlights the ongoing challenges faced by the global shipping industry. It will be interesting to see how demand evolves in the coming months and how key players in the region respond to these shifting market dynamics.