Northwestern Europe
HSFO and LSMGO supplies in the ARA are normal, while VLSFO supply remains tight, a trader told ENGINE. However, securing very prompt delivery of HSFO can be difficult in the hub, with recommended lead times of 8-10 days. Lead times of 3-5 days are advised for LSMGO, while VLSFO requires up to seven days.
The ARA's independently held fuel oil stocks are down by 9% so far this month compared to March, according to Insights Global data. At 6.63 million bbls, the region's fuel oil stocks are at their lowest so far this year.
The region has imported 269,000 b/d of fuel oil so far this month, an increase from 198,000 b/d of fuel oil imported in March, according to data from cargo tracker Vortexa.
Mexico (30% of the total) has emerged as the region's topmost import source, followed by Estonia (23%), the US (15%), the UK (12%), France and Poland (8% each), Denmark (4%) and Finland (1%).
The region's independent gasoil inventories – which include diesel and heating oil – have averaged 5% lower in April thus far. The ARA hub has imported 172,000 b/d of gasoil and diesel so far this month, marking a steep decline from 346,000 b/d imported in March, according to Vortexa data.
Prompt bunker supply is good in Germany's Hamburg port, a trader said. All bunker grades require lead times of 3-5 days, consistent with the last few months.
Mediterranean
Bunker supply in the Gibraltar Strait has improved now, after remaining tight for prompt deliveries last week. Lead times of 4-8 days are recommended for all three grades.
After multiple days of adverse weather conditions, Gibraltar, Algeciras and Ceuta are now fully operational. Conducive weather is forecast in Gibraltar until Friday. However, strong winds are expected to hit the port on Saturday and Sunday, which could complicate deliveries.
Similar to last week, prompt supply is tight in the port of Las Palmas, a trader said. Lead times of 12-14 days are advised for all three grades.
Bunker supply is stable in other Mediterranean ports, including Istanbul, Piraeus and Malta Offshore, a trader told ENGINE.
In Turkey’s Istanbul, prompt availability is good for all three grades. Lead times of 3-5 days are recommended for deliveries there.
In the Greek port of Piraeus, securing bunker deliveries during the Easter weekend can be difficult, as barge operations will be suspended between 19-20 April, a source said.
Malta Offshore has good bunker supply with prompt delivery dates available, a trader said.
Africa
VLSFO supply remains tight in the South African ports of Durban and Richards Bay, with lead times of 7-10 days advised for the grade in both ports, according to a trader.
Durban’s LSMGO supply still remains dry, a trader said. The grade has been dry since the last week of January, when suppliers ran out of LSMGO stock.
Port Louis continues to have normal bunker availability. Prompt deliveries with lead times of 5-7 days are possible for VLSFO and LSMGO, while HSFO requires 7-10 days.
Source: By Samantha Shaji, ENGINE, https://engine.online/news