Fujairah Fuel Oil Supply Rebounds, September Exports Hit Over One-Year High
nashnova research
The UAE's Fujairah port saw Q3 fuel-oil imports triple quarter-on-quarter to 2.6 million tonnes, while September exports topped 1.4 million tonnes — a new high in over a year — yet overall volumes remain roughly half of pre-conflict levels, signalling a supply chain that is healing but structurally reshaped.
How far has the recovery come?
Kpler data shows UAE Q3 fuel-oil imports reached 2.6 million tonnes (roughly 180,000 barrels per day), up from just 845,000 tonnes in Q2 — more than tripling.
September imports hit 856,000 tonnes, above August's 715,000 tonnes, but still well below the pre-conflict February level of 1.7 million tonnes.
This means → the port has bounced sharply off its trough, but is still running at roughly half of pre-conflict capacity.
Who is supplying Fujairah now?
Before the conflict, Kuwait was Fujairah's top fuel-oil supplier. That role has shifted to Saudi Arabia — Aramco's trading arm ATC has tendered additional October-loading cargoes.
Russia emerged as a significant source in September. Separately, a low-sulphur straight-run cargo from Nigeria's Dangote refinery and a high-sulphur fuel oil (HSFO) shipment from Pakistan are expected to arrive in October.
Kpler data also flags unidentified cargoes entering Fujairah via ship-to-ship transfers in the Gulf of Oman.
In plain terms = the supply map has gone from "Kuwait-dominated" to "Saudi-led, Russia filling gaps, multi-source patchwork" — with dark-fleet and transfer activity visibly up.
Where are the exports going?
The UAE has overtaken Syria to reclaim its position as the Middle East's largest fuel-oil exporter. September exports exceeded 1.4 million tonnes, a high not seen in over a year.
In plain terms = Iraq had rerouted fuel-oil exports to Syria's Banias port in Q2, briefly making Syria the region's top exporter; Fujairah's recovery has reversed that ranking.
The primary destination is Southeast Asia, signalling Asian buyers are returning.
How are bunkering and inventories tracking?
Ship-fuel bunkering sales at Fujairah have picked up in recent weeks but remain below pre-conflict levels. S&P Global data shows sales hit a record low in Q2, rebounded in July, then dipped slightly in August.
Onshore residual fuel inventories averaged 4.5 million barrels per week in September, up from 3.9 million in August — but still only half the pre-conflict weekly average of roughly 9 million barrels.
This means → bunkering is operational but far from full capacity, and the inventory buffer remains thin.
Which grade is tightest — and what comes next?
The most strained product is very-low-sulphur fuel oil (VLSFO) — a ship fuel with minimal sulphur content, now the dominant bunkering grade under IMO sulphur-cap rules. Pre-conflict, it was mainly supplied by Fujairah's VTTI refining facility plus Kuwait and Europe; sources are now limited.
Bunker supplier Dan-Bunkering noted VLSFO premiums keep rising on tight availability, while HSFO is well-supplied and premiums are under pressure.
This means → whether October arrivals can materially compress the VLSFO premium is the near-term market test — if premiums stay elevated, the recovery still has a structural gap.
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