Fujairah’s Hi5 spread widens as VLSFO remains scarce
Fujairah’s Hi5 spread has widened sharply this month, pulling away from Singapore and Zhoushan, as the limited fuel oil cargoes reaching the UAE port have been mostly HSFO. The spread between VLSFO and HSFO in Fujairah has widened from $201/mt on 1 September to $285/mt on Thursday, according to ENGINE’s daily average prices. It peaked ...
Fujairah's Hi5 spread has significantly widened this month, reaching its widest point since July, as the limited fuel oil cargoes reaching the UAE port have been mostly High-Sulphur Fuel Oil (HSFO). The spread between VLSFO (Very Low Sulphur Fuel Oil) and HSFO in Fujairah has increased from $201/mt on 1 September to $285/mt on Thursday, while in Singapore and Zhoushan, the spreads have narrowed. This widening spread indicates potential fuel cost savings for scrubber-fitted ships burning HSFO instead of VLSFO.
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