Demand is sinking at the UAE’s biggest bunkering port. File Image / Pixabay
Bunker demand in Fujairah dropped sharply in May, according to news agency Reuters.
Monthly bunker volumes at the Middle Eastern hub dropped to about 200,000-300,000 mt last month, Reuters reported Thursday, citing trade sources.
That compares with previous average volumes of about 700,000-800,000 mt/month.
The bunkering hubs largely emerged unscathed from the COVID-19 crisis in the first quarter as demand converged there from smaller ports, but there have been growing accounts of bunker consumption slipping at the hubs as well in the second quarter.
Bunker demand at Singapore saw the first year-on-year decline since October last month, according to preliminary data released by the country’s Maritime and Port Authority this week.