Fujairah oil stockpiles advanced by 6.7 per cent, the highest gain since the end of August, stated data from the Fujairah Oil Industry Zone. Officials say bunkering at Iranian ports is as much as $5-7 per tonne cheaper compared to Fujairah where approximately 80 percent of bunker fuel is said to be of Iranian origin. 18 Apr 2016. But the coronavirus “caused demand to drop off quite a bit,” Baron said. The 52,000-tonne capacity terminal will give Iran access to traffic on one of the world’s biggest shipping lanes in the Strait of Hormuz through which 40 percent of the world’s seaborne oil exports pass. In favour of a move into renewables market. Fujairah has attracted large stockpiles of fuel oils after being one of the most expensive bunkering markets in the world. Click on any company or port link (below) to view profile. "The Fujairah market is as we speak in a significant period of adjustment given all the fairly high cost oil that was brought in over a short period of time right before demand and pricing fell off." Iran will start bunkering operations at a newly-built ship fueling terminal on the Persian Gulf island of Qeshm by next month, the head of the Islamic Republic of Iran Shipping Lines (IRISL) said Wednesday. According to data, heavy distillates rose 11 per cent to 11. United Arab Emirates . As the average weekly VLSFO price rose from $191.50/t in early May to $262.50/t on 29 May, more bunker deals were fixed for small- and medium-sized cargoes, ranging as low as 150t and as high as 700t. Washington’s sanctions announced on Nov. 5 target Iran’s shipping sector as well as its banks and national airline. SINGAPORE DATA: Nov bunker fuel sales up nearly 3% on month to 4.26 mil mt. Price Methodology; Dear subscribers, ... Finland's Gasum performs first bunkering with LNG-LBG blend Latest Insights Read More. Fujairah Bunker company, bunker supplier, bunker trader and bunker broker page lists all the bunker companies in Fujairah in alphabetical order. SKS Dokka has replaced sister vessel, SKS Darent. As regards Fujairah’s strategic location, Iranian ports are sitting as much or even more pretty. Oil stocks including those of bunker fuel at the Middle Eastern bunkering and shipping hub of Fujairah have risen to their highest level since late August, S&P Global Platts reports citing Fujairah Oil Industry Zone data.. Total barrels stood at 24.6 million in mid-December. With sales in excess of 9 million metric tonnes, only Singapore is meaningfully larger in terms of volume.. The Port of Fujairah did not respond to a request for comment. Fujairah eyes growth in bunkering, oil storage and refining. "It reinforces our continued commitment to creating a net zero future for the world.". With US energy firm to build offshore wind installation vessel. World 3 [? Oil products stockpiles at the UAE's Fujairah port, the most important bunkering hub in the Middle East, jumped to a six-week high even as fuels for power Fujairah bunker fuel quality improves after Iran fuel oil flow resumes: market sources. Fujairah troubles send bunker prices soaring in Singapore Prompt delivery of bunkers comes at a premium in Asia’s busiest bunkering port 25 July 2019 7:27 GMT Updated 25 July 2019 7:27 GMT The companies will blend very low sulfur fuel oil produced by Uniper with biodiesel produced by Neutral Fuels to sell in the Fujairah bunker market, Neutral Fuels said in a LinkedIn post Tuesday. Published 5 September 2019 . Fujairah, once a sleepy fishing village, has transformed itself into one of the world’s top tanker refueling and oil storage hubs. “In this regard, we need more cooperation from the ministry of petroleum. Ship & Bunker News Team No impact on Fujairah bunkering after barge collides with LPG vessel. It is currently the world’s second-largest bunkering port after Singapore. Request Access Now. In November, a UAE government official said his country was fully complying with US sanctions imposed the same month on the Islamic Republic. The use of biofuels in bunkering has grown rapidly in Northwest Europe over the past year, but has remained limited in other parts of the world so far. Fujairah Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts The company name is linked to website of supplier, trader, broker where more details about them can be found. Our oil products should not go the UAE and for fuel, Iranian vessels should be supplied by our own storage sites,” he added. ]: Subscribe for a year or order a 1-month trial. By comparison, bunkering volumes in Singapore, the world's top bunkering hub, were 3.925 million tonnes in May, down just 2% from a year earlier despite cargo ship arrivals falling to a 27-year low. Dec 21 Djibouti LSMGO: $650pmt delivered ex-barge, $670pmt delivered ex-truck at berth in port, $660 pmt delivered ex-pipe at Horizon terminal in the port. However, cheaper freight and less congestion make Iranian ports ideal sites for expansion with investment in port infrastructure. Even before the sanctions, the United Arab Emirates had toughened its stance on Iran in line with Saudi Arabia’s hawkish policies toward the Islamic Republic. Iran is building another bunkering unit with a capacity of 52,000 tonnes in Bandar Abbas in the hope of establishing a ship refueling hub in the region. Shipping company Golden Ocean's earnings release appears to show a loss for new bunker supplier TFG Marine. File Image / Pixabay. 6 May 2016. 327 million barrels. “If we establish suitable fueling infrastructure in the country, ships will get cheaper fuel at Iranian bunkering sites instead of doing a 130-mile detour to Fujairah,” he said. Primary bunkering hubs premiums being squeezed in a well-supplied market appears to show a loss new... Lpg vessel with US sanctions imposed the same month on the Islamic Republic said. 10 bunker companies in Fujairah in UAE displays latest bunker price page for port Fujairah UAE!, analysis, trends, and history more details about them can be found denies involvement civil! Agree to our use of cookies `` it reinforces our continued commitment to creating net... Will part with calling at the Fujairah port on the Islamic Republic per. New bunker supplier, trader, broker where more details about them can be found a! Cosulich says move was `` in response to the report bit, '' said... 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