Singapore’s VLSFO bunkering demand remains subdued; JODI reports only 715 kbpd crude imports in Aug — lowest among ASEAN nations. Malacca Strait AIS traffic up to 89 vessels/day (+21.6% vs 30-day avg), but visibility ≠ actual bunkering volume. Fuel oil futures rose +0.97%, signaling early restocking pressure.

Fuel oil front-month surged 2.15% to CNY 5419/t — its largest daily gain this month. Low-sulfur stocks in Singapore hit a 3-year low, and winter power-generation stockpiling has narrowed import arbitrage windows.

Fuel oil front-month at CNY 5,485/t gains 3.39%, beating bitumen; FO-BIT spread flips to +CNY 406/t as residue yield shifts to bonded VLSFO bunker.

Shanghai fuel oil held at ¥5,295/t as bonded VLSFO bunkering demand stayed steady and Zhoushan chased transshipment tonnage. Methanol and LNG are moving into bonded bunkering, intensifying multi-fuel competition against HSFO and reshuffling bonded versus domestic heavy-oil balances.