ENGINE: East of Suez Fuel Availability Outlook

Fuel availability in East of Suez remains tight, with suppliers advising lead times ranging from 10 to 24 days for various fuel grades. Singapore and Malaysia's VLSFO stocks are low, with inventories falling from more than 23 million barrels in March to below 18 million barrels in June, despite a slight increase in July. Supply pressures are also felt in Malaysia's Port Klang and East Asia's Zhoushan, with lead times for LSMGO and HSFO extending to around 10 days.

Typhoon Dolphin may further disrupt bunkering operations in Zhoushan and Taiwan's ports, causing delays. In China, bunker fuel supply conditions vary by port, with Dalian and Qingdao having adequate supplies, while Tianjin faces constraints. Hong Kong's bunker market remains stable, with suppliers recommending seven-day lead times for all fuel grades.

Taiwan's ports have shown improvement, with Keelung's lead times easing to around two days. South Korea's southern ports have seen improved bunker availability, while northern ports such as Busan, Ulsan, and Incheon have also benefited from reduced demand due to Typhoon Dolphin. Japan's bunkering market has been hit hard by the renewed US-Iran conflict, with ex-wharf restrictions imposed on VLSFO and HSFO until late August, leading to a nationwide supply squeeze.

Oceania's ports in Western Australia have stable VLSFO availability, while eastern Australia faces tighter supply conditions, particularly in Sydney and Melbourne. Western Australia's Dampier Cargo Wharf pipeline deliveries are suspended until late September.