SINGAPORE - Marine fuel sales at the United Arab Emirates' Fujairah fell to a seven-month low in June, extending declines to a third month, latest data showed.

Sales volumes at the world's third-largest bunkering port, excluding lubricants, totalled 610,765 cubic metres (about 605,000 metric tons), the lowest since November, based on Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights. The monthly volume eased 0.8% from May, but was up 0.9% from the same month last year.

Total sales in the first half of 2024 were 3.8 million tons, up 8% from the same period in 2023, as broader shipping tensions in the Red Sea lifted bunkering demand at key ports.

However, sales have weakened in recent months as supply has tightened due to robust summer demand, while cheaper prices at neighbouring port Khor Fakkan continue to draw away some buying interest from Fujairah, according to industry sources.

High-sulphur bunker sales fell 8.5% from May to 149,951 cubic metres in June, the FOIZ data showed.

Low-sulphur bunker sales, including residual fuels and marine gasoils, totalled 460,814 cubic metres, up 2% month-on-month. The market share of low-sulphur bunkers rose to 75% in June, while that of high-sulphur bunkers was at 25%.

Fujairah bunker sales by month, in cubic metres, excluding lubricants: Month Total Sales M-o-M Y-o-Y Jan-24 674,632 2.4% 6.6% Feb-24 633,436 -6.1% 10.7% Mar-24 700,918 10.7% 25.2% Apr-24 638,960 -8.8% 7.1% May-24 615,462 -3.7% -0.8% Jun-24 * 610,765 -0.8% 0.9%

Monthly bunker sales by grade, in cubic metres:

Month 180cst LSFO 380cst LSFO 380cst HSFO MGO LSMGO Lubricants Jan-24 341 436,604 207,124 122 30,441 4,372 Feb-24 1,000 407,799 192,753 210 31,674 4,420 Mar-24 924 463,245 198,273 321 38,155 5,171 Apr-24 742 434,918 171,841 634 30,825 3,734 May-24 464 422,659 163,893 61 28,385 4,592 Jun-24 * 1,088 428,138 149,951 216 31,372 4,792

Data source: Fujairah Oil Industry Zone data published by S&P Global Commodity Insights (1 cubic metre = 6.29 barrels) (1 metric ton = 6.35 barrels for fuel oil)

(Reporting by Jeslyn Lerh; Editing by Subhranshu Sahu)