• Supply “super tight” across ARA and Gibraltar Strait
• Russian imports continue to flow into ARA
• ARA fuel oil stocks nearly halved from last year
Availability remains tight for all fuel grades in the ARA ports, with several suppliers unable to commit to prompt deliveries. Recommended lead time for HSFO380 is around 5-10 days, VLSFO is 4-8 days and LSMGO requires six days.
Independently held gasoil inventories in the ARA came down by 6% in the past week and dropped to their lowest point since March 2014, while fuel stocks have nearly halved from last year, Insights Global data shows.
There have been steady flows of fuel oil and gasoil coming into the ARA from Russia this year, and even after its invasion of Ukraine. Russia has remained the biggest fuel oil import source for the ARA in April. Nearly half of the imported fuel oil came from Russian ports, according to Vortexa. Estonia and the UK were the second and third biggest sources.
LSMGO availability is tight in Hamburg, while VLSFO is slightly better and requires five days lead time, sources say. However, availability is tight across all grades in Bremerhaven, where a supplier’s earliest delivery date is set to the beginning of next month.
Prompt deliveries are tight in Las Palmas and Gibraltar Strait ports. Recommended lead times are 7-12 days for HSFO380, VLSFO requires 4-5 days and LSMGO six days ahead.
Two suppliers are fully committed for HSFO380 supply in Gibraltar until 17 April, sources say.
The weather at Gibraltar Strait has been calmer this week, allowing suppliers to clear some backlogs built up from recent weather suspensions.
In Gibraltar, around 13 vessels were waiting to bunker on Wednesday, down from 24 a week ago, says port agent MH Bland. Two suppliers are delayed by 18-24 hours.
Similarly, suppliers in Algeciras continue to deliver stems at outer and inner anchorages. Seven vessels are waiting to bunker at its outer D anchorage while congestion is reported minimal at inner anchorages, says MH Bland.
In Ceuta, no vessels awaited bunkers at anchorage or berth on Wednesday, according to shipping agent Jose Salama & Cia. Seven vessels were due to arrive for bunkers.
Bad weather over the past two months in Gibraltar Strait has created lot of delays and backlogs thus making lead times unpredictable, sources say.
Bunker operations in Malta are limited to Area 6 out of the six offshore bunkering areas, Seatrans Shipping agency says. Seven vessels were due to arrive for bunkers off Malta on Wednesday and no backlogs are expected.
Bad weather is forecast to off Malta from Wednesday and through to Sunday, possibly creating delays and considerable backlogs, sources say. Suppliers are hesitant to offer prompt deliveries and can offer deliveries from 17 April.
In Italian ports, availability of LSMGO and VLSFO remains tight, but expected to improve some in the coming weeks, a source says. Recommended lead times in Genoa for LSMGO and VLSFO is around seven days. Meanwhile, a supplier can offer limited prompt deliveries of VLSFO in Augusta.
In Barcelona, prompt deliveries for VLSFO and LSMGO are tight, one supplier is fully committed until 18 April, sources say.
In Piraeus, availability for VLSFO and LSMGO has improved from last week. Recommended lead times are around 3-5 days, and prompt deliveries are difficult as barge schedules are tight, sources say.
Availability of VLSFO and LSMGO is normal in the Istanbul, where a supplier can offer prompt deliveries.
Bunker operations continue to run smoothly in the Georgian ports of Batumi and Poti. Around 16 vessels are expected to arrive in the second half of April in both ports, sources say.
Bunker fuel availability in Durban and Cape Town is normal. Suppliers can offer prompt deliveries for LSMGO and VLSFO, sources say.
Source: ENGINE (https://engine.online/)