HSFO supply is running dry in the Greek port of Piraeus as one of the refineries is almost out of HSFO stock, two sources said. 

PHOTO: The Port of Piraeus in Athens, Greece. Getty Images

HSFO is expected to remain tight for the remaining days of this month, a trader said. Most suppliers can offer the grade for non-prompt delivery dates. 

The Greek refinery did not disclose the reason for the lack of production, another source said.

HSFO is available with a supplier in Malta, a trader said. Piraeus's HSFO discount to Malta's HSFO has narrowed sharply from $50/mt last month to $20/mt now.

Piraeus has ample availability of VLSFO and LSMGO, with lead times of 3–4 days advised. Bunkering disruptions are likely to occur intermittently till Saturday in Piraeus amid adverse weather conditions forecast in the area.

Demand continues to be low in Mediterranean bunker hubs like Piraeus, Malta Offshore and Istanbul.

By Nithin Chandran and Manjula Nair

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