Northwest Europe
Prompt supply of HSFO is still tight in the ARA hub, a trader said, recommending lead times of 5-7 days for full coverage from suppliers. VLSFO and LSMGO availability is relatively better, with lead times of 3-5 days.
The ARA's independently held fuel oil stocks have increased by 8% so far this month compared to December, according to Insights Global data.
The region has imported 219,000 b/d of fuel oil so far this month, an increase from 161,000 b/d imported in December, according to data from cargo tracker Vortexa.
The UK (20% of the total) has emerged as the region's biggest fuel oil import source this month, followed by Saudi Arabia (19%), Poland (14%), Germany (11%) and Lithuania (10%).
The ARA hub's independent gasoil inventories – which include diesel and heating oil – have averaged 16% higher in January so far. The region has imported 185,000 b/d of gasoil and diesel so far this month, down from 238,000 b/d imported in December, according to Vortexa data.
Supply of all grades is good in Germany's Hamburg port, a trader told ENGINE. Recommended lead times are 3-5 days.
Mediterranean
Bunkering has resumed in Gibraltar from Tuesday after remaining suspended on Monday due to rough weather, according to port agent MH Bland. Suppliers in the port are struggling to clear the backlog of vessels due to adverse weather conditions, which are likely to prevail until Thursday.
These bunkering disruptions have stretched lead times in Gibraltar to 5-7 days for all grades, a trader told ENGINE.
Bunkering has been partially suspended by strong winds in Huelva since Monday. Bad weather conditions have made it difficult to supply bunkers in Huelva. The suspension is likely to continue till Thursday, as strong wind gusts of up to 34 knots are forecast on Wednesday and 29 knots on Thursday.
Rough weather is reported in the Canary Islands' port of Las Palmas. Inclement weather conditions are likely to continue until 31 January and could trigger bunker disruptions, a trader told ENGINE. Recommended lead times for VLSFO, LSMGO and HSFO grades are 7-10 days.
Prompt bunker supply is slightly tight in the Greek port of Piraeus. Suppliers can offer the earliest bunker delivery dates for all grades from 3 February, a trader said. Calm weather conditions are forecast in the port this week, making it conducive for suppliers to deliver stems, the trader said.
Bunker supply is good off Malta, with suppliers able to offer prompt delivery dates. There is forecast of rough weather off Malta this week, which could hamper smooth deliveries.
In Turkey's Istanbul, bunker availability is good across all three grades, a trader said. Recommended lead times are 3-5 days.
Africa
In the South African ports of Durban and Richards Bay, VLSFO supply is still tight with recommended lead times of 7-10 days.
Suppliers have again run out of LSMGO stocks in Durban, a trader told ENGINE. LSMGO supply had briefly resumed in Durban last week after suppliers in the port ran dry in the last week of December.
Mauritius' Port Louis has good availability of VLSFO, LSMGO and HSFO, a trader said. Suppliers can offer prompt deliveries.
Meanwhile, offshore bunker deliveries are set to resume off Algoa Bay. The first offshore bunker operation in Algoa Bay since deliveries were banned in 2023 is scheduled on Wednesday, according to a source.
British oil supplier BP has sold the stem, which will be delivered by a barge owned by African Marine Solutions (AMSOL), the source told ENGINE. The stem’s quantity and the fuel grade to be supplied have not been disclosed.
The South African Revenue Service (SARS) has scheduled an industry-level workshop on Wednesday on the amendment of certain rules of the Customs and Excise Act, another source told ENGINE.
Bunkering off Algoa Bay has been at a standstill since September 2023, when SARS suspended offshore bunkering after detaining five bunker barges over import duty disputes. The vessels were diverted to other nearby bunker locations, such as Durban, Richards Bay and off Walvis Bay.
Source: ENGINE, By Manjula Nair, https://engine.online/news