Tag: Fujairah port

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Fujairah bunker premiums sink with crude prices

Bunker fuel prices in the Fujairah market have fallen to their lowest in 16 months Bunker fuel prices in the Fujairah market have fallen to their lowest in 16 months as falling crude oil prices weigh on bunker and cargo fuel oil premiums in the region.Prices for 380 centistoke (cst) fuel oil in Fujairah are around $578 a tonne, while prices for 180 cst are at $605 a tonne, both their lowest levels since February 2011.The Asian bunker market is similarly weak. The price of ex-wharf marina fuel hit a new 17-month low on Monday with participants expecting to see further falls. But premiums for 180 cst rebounded."Crude is dropping so the (tanker) owners are not buying as they want to see how much it can fall, so basically delaying demand," one Fujairah-based fuel oil trader said.Oil is on track to post its biggest quarterly fall since the financial crisis in 2008 as the euro zone crisis and weak growth in the United States weigh on the global market, while ample supply from OPEC has added to the downward pressure on prices."This puts pressure on premiums as sellers want to sell but there are not many buyers around in Fujairah," ...

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Fujairah builds up storage capacity

UAE port also developing infrastructure to keep pace with extra capacity The Red Sea and Gulf Bunkering Conference (Rescon) was told that storage capacity at Fujairah, UAE, is expected to rise to around 7.8m cu m by 2014 from its current 5.8 m cu m.Speaking earlier this week Tamer Masoud said that Fujairah was experiencing booming demand from the Middle East and Asia. Fujairah is currently the world's second largest bunker port in the world.Reuters quoted Capt Masoud as saying: "We're working to develop our infrastructure parallel to the oil storage growth." He noted that major storage projects by Aegean Maritime, Gulf PetroChem and ENOC were close to completion.He is quoted as saying: "We're offering a one-stop shop in terms of maritime services, plus the strategic location makes an important difference."Another major project is the Abu Dhabi Crude Oil Pipeline, running to Fujairah, which is expected to be operational soon. The pipeline should be able to deliver up to 1.5 million barrels of crude oil a day. The project should also boost Fujairah's bunker market with large crude oil carriers taking on stems prior to loading.Source: World Bunkering

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Iran diverts shipping fuel from Fujairah to Singapore

Iran has diverted large volumes of shipping fuel Iran has diverted large volumes of shipping fuel that would normally be sold through Fujairah to Singapore to avoid international sanctions, traders said yesterday.Situated on the Gulf of Oman, Fujairah offers an ideal staging post between the Atlantic and Pacific regions where ships can drop anchor and refuel. It has grown into one of the world's most frequented ship refuelling terminals."Getting product from Iran is impossible. Its been like this for more than two months," said Nic Marinos, a broker at Agean in Fujairah.Abolfazl Rostami, a senior trader at the National Iranian Oil Company (NIOC), said Singapore was proving a better market for Iranian exports."For the NIOC part is has been reduced a little bit, it has sold to Singapore because we have good customers there," he said.Iranian fuel oil is of a high quality with a low ratio of sulphur, and fuel retailers normally blend it with lower quality oil before selling it on to ship owners.The drop in supply has caused prices in Fujairah to rise sharply. "This implies higher blending costs for Fujairah," said Barclays Capital in a report, adding that the cost of fuel sold in Fujairah rose ...

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Fatalities in Fujairah tanker explosion

Three people dead, one injured and two missing Investigations have begun into a series of explosions on a tanker at Fujairah that left three people dead, one injured and two missing.Some 105 local repair workers and crew were on board the Mercator-managed Aframax 'Prem Divya' when welding work created a spark that triggered three explosions last Thursday.The Vessel was in ballast at the time of the casualty, according to local UAE newspaper, The Nation.Fujairah port officials said that the vessel had been certified as having been gas free.Technicians representing both the owners and insurers have arrived in an effort to determine the cause of the incident, Capt Mousa Morad, Fujairah port general manager, told the newspaper.Half of the 24 crew were transferred to a hotel, while the other half remained on board. The repair workers had left, according to Ishtiaq Ahmed Malik, an official at the vessel's agency, Blue Sea Shipping Agency, talking to The Nation.'Prem Divya' is to remain at Fujairah until the incident has been fully investigated, a damage assessment has been carried out and compensation paid to the repair companies, plus the repatriation of the dead bodies.The Aframax arrived at Fujairah on 27th December for a 10-day ...

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