Prompt HSFO supply tight in Gibraltar

Bunker availability normal in Hamburg

Prompt VLSFO supply tight in Maputo

PHOTO: Aerial shot over the Cape Town harbour. Getty Images

Northwest Europe

Prompt supply of HSFO and VLSFO remains tight in the ARA hub, with traders recommending lead times of 5-7 days for optimal coverage. LSMGO availability is relatively better, and deliveries are possible within 3-5 days.

The ARA’s independently held fuel oil stocks have declined by 6% so far this month compared to January, according to Insights Global data.

The region has imported 330,000 b/d of fuel oil so far this month, up from 298,000 b/d imported in January, according to data from cargo tracker Vortexa. Saudi Arabia (28% of the total) has emerged as the region’s biggest fuel oil import source, followed by Sweden (16%), Germany and Lithuania (9% each).

The ARA hub’s independent gasoil inventories - which include diesel and heating oil – have averaged 4% higher. The region has imported 397,000 b/d of gasoil and diesel, a sharp increase from 194,000 b/d b/d imported in January, according to Vortexa data.

Prompt supply of all grades is good in Germany’s Hamburg. Lead times of 3-5 days are advised for full coverage from suppliers, according to a trader. 

Meanwhile, a 24-hour port strike is scheduled to commence from 05.00 GMT on Friday in the French ports of Saint Nazaire, Nantes and Montoir, according to GAC Hot Port News. Dockers and port staff have announced the strike action. Another 48-hour strike is scheduled in these ports on 26-27 February. These port disruptions may impact bunkering. 

Mediterranean

Prompt HSFO supply is currently very tight in Gibraltar. The earliest delivery date suppliers can offer for the grade is 28 February, a trader said. Lead times for HSFO in Gibraltar have stretched from 3-5 days last week, to 8-10 days now. VLSFO and LSMGO supply remains normal in the port, with lead times of 5-7 days advised.  

In the Canary Islands’ port of Las Palmas, bunker supply is good for all grades. Lead times of 3-5 days are advised. Intermittent rough weather conditions could hamper bunker operations in Las Palmas between today and Thursday, when strong wind gusts are forecast to hit the port.

Bunker supply is available for prompt delivery dates in the Spanish port of Barcelona, a trader told ENGINE. Lead times of 3-5 days are recommended for full coverage. 

Meanwhile, demand remains muted in other Mediterranean bunker hubs like Piraeus, Malta Offshore and Istanbul, a trader told ENGINE.   

Availability of VLSFO and LSMGO is good in the Greek port of Piraeus, with recommended lead times of 3-5 days. HSFO supply is subject to enquiry, a trader said. 

Off Malta, bunker availability is normal for all three grades. Lead times of 3-5 days are recommended.

Turkey’s Istanbul port has good availability across all grades, with recommended lead times of 3-5 days. 

Africa

In the South African ports of Durban and Richards Bay, VLSFO availability is very tight for prompt delivery dates, a trader said. Recommended lead times are 7-10 days. 

Suppliers are still out of LSMGO stocks in Durban, the trader said. LSMGO supply has been dry in Durban since the last week of January.

Supply of all three grades is currently good in Mozambique’s Nacala port, while VLSFO availability is tight in Maputo, a source told ENGINE. Suppliers in Maputo can offer VLSFO from 22 February, the source added. 

By Manjula Nair

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