Singapore fuel oil inventories broadly stable for second week
SINGAPORE, Feb 26 (Reuters) - Singapore onshore fuel oil inventories inched up slightly this week, while holding at largely unchanged levels for a second consecutive week, official data showed on Thursday.
Residual fuel stockpiles were up by 0.5% to 22.63 million barrels (about 3.56 million metric tons) in the week to February 25, based on data from Enterprise Singapore. O/SING1
Amid the broadly ample inventory levels, Singapore's spot market for high-sulphur fuel oil had softened in recent sessions with narrower spot premiums, while the low-sulphur fuel oil market was range-bound in recent sessions. FUEL/A
Total fuel oil imports into onshore tanks rose 12.7% week-on-week to over 882,000 tons, calculations from the data showed.
Japan was the top origin for the imports in the week, followed by Nigeria.
Meanwhile, exports from Singapore onshore tanks fell 43.2% on the week to about 235,000 tons.
South Korea and the Philippines were the top destinations for Singapore's fuel oil outflows.
Week to Feb. 25, Fuel oil (in metric tons) | Total Imports | Total Exports | Net Imports |
BANGLADESH | 0 | 20,008 | -20,008 |
BRAZIL | 31,345 | 0 | 31,345 |
CHINA | 0 | 31,902 | -31,902 |
CZECH | 0 | 0 | 0 |
DENMARK | 78,769 | 0 | 78,769 |
GERMANY | 4,569 | 0 | 4,569 |
INDIA | 64,394 | 176 | 64,218 |
INDONESIA | 71,282 | 0 | 71,282 |
JAPAN | 175,926 | 0 | 175,926 |
KOREA | 0 | 62,784 | -62,784 |
MALAYSIA | 179,604 | 68,135 | 111,469 |
NEPAL | 0 | 43 | -43 |
NETHERLANDS | 16,142 | 0 | 16,142 |
NIGERIA | 153,817 | 0 | 153,817 |
PHILIPPINES | 0 | 41,456 | -41,456 |
TAIWAN | 0 | 0 | 0 |
THAILAND | 0 | 0 | 0 |
UNITED ARAB EMIRATES | 39,845 | 0 | 39,845 |
UNITED STATES | 66,937 | 0 | 66,937 |
VIETNAM | 0 | 10,736 | -10,736 |
TOTAL | 882,632 | 235,240 | 647,392 |
(Data from Enterprise Singapore)
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