Northwest Europe
Rotterdam and the wider ARA hub have normal bunker availability with lead times unchanged since last week. A trader advises lead times of 3-5 days for optimal coverage across all grades.
The ARA’s independently held fuel oil stocks have grown to average 1% higher in June so far than across May, according to Insights Global data.
The ARA’s fuel oil stocks have grown to their highest monthly level since April 2021. The region has imported 231,000 b/d of fuel oil so far this month, down from 252,000 b/d of fuel oil imported in May, according to data from cargo tracker Vortexa.
Lithuania has been the ARA’s top fuel import source this month, accounting for 42% of the region’s total imports. France has come second at 17% and Estonia has ranked third at 16% of the total imports. Other fuel oil import sources include Poland (8%) and Tunisia (7%).
The ARA hub’s independent gasoil inventories — which include diesel and heating oil — have declined by 1% in June so far.
An oil spill incident was reported in Antwerp’s Deurganck dock on Thursday last week, according to the Port of Antwerp-Bruges authority. The impact was confined to the Deurganck dock area. Bunkering has been mostly unaffected by the oil spill, two sources say. The clean-up activity caused slight delays, but bunkering has not been impacted, according to one source.
In the French ports of Saint-Nazaire and Montoir, dock workers are still in strike mode. Another strike action is scheduled for this Friday, and is set to continue intermittently until 28 June in both ports. The strikes could impact bunkering in these ports, with suppliers unlikely to offer on the days when the strike action takes place, a trader told ENGINE.
Availability remains normal in the German port of Hamburg, according to a trader. Lead times are unchanged from the last few weeks with 3-5 days advised for all three grades in the port.
Suppliers off Skaw struggle with prompt availability for all grades. Availability is good for non-prompt supply, and lead times of 7-10 days are recommended for all grades. Rough weather-induced bunkering disruptions may occur on Thursday and Friday, according to a source.
Mediterranean
Prompt availability has tightened in Gibraltar and Algeciras, according to a trader.
Bunker buyers have been struggling to secure VLSFO stems for prompt dates in Algeciras as some suppliers are experiencing product loading delays. Bunker barges are encountering delays in loading products from oil terminals in Algeciras, two sources say. Two out of four suppliers there are unable to offer VLSFO for prompt dates.
The earliest delivery date for VLSFO with the two suppliers in Algeciras is 21 June. One supplier can offer the grade for prompt dates, but these offers are usually priced higher, a source says.
In Gibraltar, one supplier is unable to offer prompt stems. As a result, lead times have been stretched for all three grades in both ports compared to last week. A trader advised lead times of 5-7 days for HSFO and LSMGO, while VLSFO requires 8-10 days, up from the 2-4 days recommended for all grades last week.
Demand remains subdued in the east Mediterranean ports of Piraeus and Istanbul, as well as off Malta. Hardly any enquiries have been seen in these locations, a trader claims.
In Greece’s Piraeus, availability is normal amid muted demand, a trader told ENGINE. Lead times of 3-4 days are recommended for all grades, unchanged from last week. The weather is forecast to remain calm for the rest of the week, making it conducive to bunkering.
The is also good availability off Malta. Lead times are similar to Piraeus at 3-4 days. Rough weather is forecast in and around Malta on Friday and may hamper bunkering in offshore locations, according to a source.
Availability is normal in Turkey’s Istanbul, according to a trader. Lead times of 3-4 days are recommended for all three grades. Adverse weather is likely to complicate bunkering on Thursday and Friday, when strong wind gusts of up to 23 knots are forecast in the area.
Africa
Securing prompt stems for VLSFO may be challenging in the South African ports of Durban and Richards Bay as availability is slightly tight for prompt delivery dates. Lead times of 7-10 days are advised in both ports, according to a trader.
Similarly, prompt LSMGO availability is tight in Durban. A trader recommends lead times of 7-10 days for the grade. Durban will experience calm weather for the rest of the week, allowing bunkering operations to proceed smoothly.
In Mozambique’s Nacala port, HSFO is nearly dry amid steady demand, a source told ENGINE. VLSFO and LSMGO availability is good in the port, even as both grades are in steady demand.
Availability of VLSFO is normal in Mozambique’s Maputo and the grade is high in demand in the port, a source said. LSMGO availability is also good in the port and demand is stable for the grade.
Source: ENGINE, By Manjula Nair, https://engine.online/news