Fujairah’s HSFO market faces stiff competition as demand shifts to Khor Fakkan

Rising competition from high sulfur fuel oil suppliers at the nearby Sharjah port of Khor Fakkan increasingly attracts buyers’ interests, at the expense of demand at the UAE’s bunker hub of Fujairah, according to local traders. Steady inflows of Russian-origin HSFO barrels, in and around the Fujairah belt, is likely to have elevated inventories but also created an uneven playing…