Northwest Europe
Securing HSFO prompt stems in Rotterdam and in the wider ARA hub remains difficult, sources say. Some suppliers are hesitant to supply HSFO stems in large quantities.
VLSFO availability is said to be normal there, with some suppliers able to supply for prompt delivery dates, a trader says. Lead times of 5-7 days are recommended for HSFO and VLSFO.
LSMGO availability is normal for prompt delivery dates in Rotterdam, with lead times of 2-3 days recommended for the grade, a source says. But another trader says that LSMGO can be slightly difficult to secure for very prompt dates (0-2 days) in Rotterdam and in the wider ARA hub.
The ARA’s independent gasoil stocks have averaged 11% lower so far this month than across June, according to Insights Global data. The gasoil inventories have declined for a fourth consecutive week and are sharply down from recent peak levels of 18.59 million bbls seen in February, to 14.66 million bbls in the latest week.
ICE gasoil premiums have also narrowed sharply in recent months. Typical front-month ICE gasoil price premiums over Rotterdam’s delivered LSMGO grade have been erased, and ICE gasoil currently stands at a $6/mt discount. Its premium topped at $58/mt in March, but has since declined.
VLSFO and LSMGO supply remains normal for delivery off Skaw, a source says. Recommended lead times for both grades remain unchanged at 7-10 days. HSFO supply is relatively tighter there.
Bunker fuel availability is normal in the German ports of Hamburg and Bremerhaven, with lead times of five days.
Mediterranean
HSFO supply remains tight in Gibraltar Strait ports. A lead time of 5-7 days is generally recommended to ensure full coverage from suppliers in the region. VLSFO and LSMGO availability is normal across Gibraltar, Algeciras and Ceuta, with lead times of 3-5 days recommended.
VLSFO has become more available in Ceuta after two suppliers received replenishment cargoes. On Tuesday, a total of 33,000 mt of VLSFO was discharged in the port, with 25,000 mt going to one supplier and 8,000 mt to another, according to the Port of Ceuta.
Minimum congestion was reported in Gibraltar, Algeciras and Ceuta on Wednesday, port agent MH Bland says. One supplier in Gibraltar and three in Algeciras were behind schedule.
Global bunker supplier Peninsula has started biofuel supply in Gibraltar Strait. It delivered a B24 stem to a chemical tanker in Gibraltar on 19 June. The B24 marine biofuel – is a blend of 24% used cooking oil methyl ester (UCOME) and 76% VLSFO. The biofuel was delivered using its recently acquired bunker delivery vessel Hercules Sky.
HSFO is very tight in Las Palmas and in the nearby port of Tenerife, a source says. Meanwhile, VLSFO and LSMGO grades are in more ample supply in both locations.
VLSFO and LSMGO remain in steady supply in the Portuguese ports of Lisbon and Sines, a source says. Availability is also good for prompt supply off Malta, and in the Greek port of Piraeus.
Africa
VLSFO and LSMGO availability remains normal in the South African ports of Durban and Cape Town, and at the Algoa Bay anchorage by Port Elizabeth, where lead times of up to seven days are recommended, a source says.
VLSFO availability is tight in Mozambique’s Nacala port, with limited product availability until 28 July, a source says. Meanwhile, HSFO and LSMGO availability is normal in Nacala.
VLSFO and LSMGO availability is normal in Mozambique’s Maputo port.
Source: Engine