ARA gasoil lead times shorter than for fuel oils

Prompt bunker supply tight in Barcelona

LSMGO availability tight in Luanda

IMAGE: Aerial view of the Port of Barcelona. Getty Images

Northwest Europe

After the Easter weekend, LSMGO is the only grade that is readily available in the ARA hub with recommended lead times of 3-5 days, a trader told ENGINE. Prompt supply for both HSFO and VLSFO is tight, with recommended lead times of 8-10 days and 5-7 days, respectively.

The ARA’s independently held fuel oil stocks have dropped by 5% so far this month compared to March, according to Insights Global data.

The region has imported 201,000 b/d of fuel oil so far this month, an increase from 198,000 b/d of fuel oil in March, according to data from cargo tracker Vortexa. The ARA has imported low sulphur fuel oil (LSFO) and HSFO in a 52/48 ratio so far this month, now leaning towards LSFO after an equal split last month.

Mexico (24% of the total) has emerged as the ARA's biggest fuel oil import source. Other import sources have been the UK (23%), Denmark (17%), the US (11%), France (10%) and Germany (8%).

The ARA's independent gasoil inventories - which include diesel and heating oil – have also averaged 5% lower this month. The ARA hub has imported 181,000 b/d of gasoil and diesel so far this month, marking a steep decline from 346,000 b/d imported in March, according to Vortexa data.

Prompt bunker supply is good in Germany’s Hamburg port, a trader said. All bunker grades require lead times of 3-5 days, consistent with recent weeks.

Mediterranean

Fuel availability across all grades remains stable in the Gibraltar Strait ports, compared to last week’s tight prompt bunker supplies, a trader said. Recommended lead times for all three grades have come down to 4-8 days, from last week’s 7-9 days. The three ports are now fully open for bunkering, with slight congestion at Algeciras’s Inner Anchorage area.

Prompt supply remains tight in the Canary Islands’ port of Las Palmas, a trader said. Lead times of 12-14 days are needed for all three grades. 

The Portuguese port of Lisbon has good bunker supply across all three grades, with recommended lead times of 5-7 days, according to a trader.

Availability of all three grades is tighter than usual in Barcelona with lead times of 5-7 days advised, a source told ENGINE.

In the Turkish port of Istanbul, HSFO and VLSFO availability is subject to enquiry while LSMGO is readily available, a trader told ENGINE.

The Greek port of Piraeus has good bunker supply for all three grades, a trader said.

Malta Offshore has good bunker supply with delivery dates dependent on quantity, another trader said.

Africa

The two South African ports of Durban and Richards Bay have readily available supplies of HSFO and VLSFO with lead times for both ports advised as 7-10 days, a trader told ENGINE.

Durban's LSMGO supply still remains dry, a trader said. The grade has been out of stock since the last week of January.

Port Louis in Mauritius continues to have normal bunker availability. Prompt deliveries are available with lead times of 5-7 days advised for all grades.

In Luanda, VLSFO availability remains good while LSMGO supply is tight, a trader said. Lead times of 3-4 days are advised for both grades.

By Samantha Shaji

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