globalbizmag.com
Sales of marine fuel in the United Arab Emirates’ Fujairah marine refuelling and oil storage hub rose 13% in March, official data showed, climbing to their highest level so far this year.
March bunker sales volumes were about 691,000 cubic metres, according to the latest data from the Fujairah Oil Industry Zone (FOIZ), equivalent to about 662,000 tonnes, Reuters calculations showed.
The March sales volume is the first monthly rise since October, when sales had hit a record high.
In February, Fujairah bunkering volumes were at about 612,000 cubic meters. read more
Combined low-sulphur bunker sales in February climbed 15% from the previous month to about 562,000 cubic meters, Reuters calculations showed.
The share of low-sulphur sales to overall bunker volumes were at 81% in March, compared with 80% in February, Reuters calculations showed.
Sales of 380-cst high-sulphur fuel oil (HSFO) rose to about 129,000 cubic meters in March, up 3% from the previous month, while demand for the mainstream 380-cst very low sulphur fuel oil (VLSFO) increased 14% to a three-month high of 528,000 cubic meters.
Sales of low-sulphur marine gasoil (LSMGO) jumped 40% in March to about 33,000 cubic meters, while marine gasoil (MGO) volumes slipped 21% from the previous month to about 1,100 cubic meters.
Reporting by Koustav Samanta; Editing by Louise Heavens
This article was originally published by Reuters.
Basra officials say output can rebound within days as Hormuz disruption continues to weigh on…
New regime offers up to 50% tax relief, setting the stage for research-led growth and…
Tourism slowdown, real estate stress, and financial volatility drive calls for policy intervention Nearly a…
In a strategic move to reinforce global trade resilience and enhance logistics efficiency, Dubai Chambers,…
Dubai’s once-booming real estate sector is witnessing a sharp slowdown, with property sales dropping by…
Keturah analysis shows developer transaction volume climbed 42% YoY with a week of the month remaining…