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June 20, 2018

Bunker Fuel

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Med and Africa Bunkers Commentary

New York (Platts)--08Mar18/0745 pm EST/ 0045 GMT

Falling ICE Brent and gasoil futures weighed on bunker fuel prices at a number of ports in the Mediterranean, Black Sea and Africa Thursday. Availability of bunker fuel at the Spanish port of Las Palmas in the Canary Islands remained constrained as fresh deliveries were awaited, according to sources. "It is still tight on availability. There will be more supply on March 13," a source said. Supply of material has been tight for several days and there have also been intermittent weather-related closures at the port, sources said. One source said availability of product was not the problem, and that restrictions on capacity were due to a tight barge schedule. Congestion was easing at Gibraltar. Seven bunker supply operations were in progress at the port and two vessels were waiting to enter the port in order to bunker, a spokesman for the port authority said Thursday afternoon. Supply at Malta was sufficient, suppliers said. Demand at the island was heard average to good. Operations were coming under pressure in the eastern Mediterranean as bad weather diverted more ships from the Black Sea, sources said. "Demand is very good and availability [of product is good]," a supplier in Istanbul said. "Barges are tight for the weekend." The bad weather has impacted bunkering plans and, therefore, the Istanbul suppliers knew extra vessels were coming, a trader said. At Piraeus, Greece, the barge schedule remained tight because of tough safety inspections. Strong winds were also impeding bunkering operations to some extent, although that was expected to abate by Friday, a trader said.


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