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June 23, 2018

Marine News

Marine News

East Med bunkers congested after bad weather

London (Platts)--8Mar2018/957 am EST/1457 GMT


Operations are coming under pressure in the Eastern Mediterranean as bad weather has diverted more ships from the Black Sea, sources said Thursday.

"Demand is very good and availability [of product is good]," a supplier in Istanbul, Turkey, said. "Barges are tight for the weekend."

The bad weather has impacted bunkering plans and therefore the Istanbul suppliers know the extra vessels are coming, a trader said.

At Piraeus, Greece, the barge schedule remains tight because of tough safety inspections. Strong winds are also impeding bunkering operations to some extent, although this is expected to abate by Friday, a trader said. Prices in the region resisted the wider regional trend of decreases Thursday.

S&P Global Platts assessed 380 CST fuel oil at Istanbul stable Thursday at $375/mt delivered. Platts assessed 380 CST fuel oil at Piraeus at $371/mt delivered Thursday, up $1/mt on the day.

Prices in the Western Med fell by $2-$3/mt on the day.

--Tom Washington, thomas.washington@spglobal.com
--Edited by Jeremy Lovell, jeremy.lovell@spglobal.com

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