Lisbon’s VLSFO is currently trading at a rare discount to Las Palmas as supply has been robust there.

PHOTO: A container ship moored at the dock in Lisbon, Portugal. Getty Images

We have ample VLSFO product available in Lisbon and other Portuguese ports and can swiftly deliver the grade with short lead times, a Portuguese bunker supplier tells ENGINE.

Lisbon’s VLSFO is currently priced about $11/mt lower compared to Las Palmas’ VLSFO. Its premium over Gibraltar’s VLSFO has also shrunk from $16/mt last month, to just $3/mt now.

Bunker-only calls in Lisbon were significantly high in January amid Red Sea diversion, but reduced coming into February, the supplier adds. Bunker demand has also been high in Las Palmas and Tenerife in the Canary Islands as vessels reroute around Africa to avoid attacks in the Red Sea.

By Nithin Chandran

Please get in touch with comments or additional info to news@engine.online