Europe & Africa Fuel Availability Outlook 10 Dec

Prompt ARA supply still tight

Five-day lead times advised for Piraeus

HSFO availability remains tight across Africa

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

Northwest Europe

Fuel availability is tight for prompt supplies in the ARA hub, with buyers advised to enquire about stems with 5-7 days of lead times to get competitive offers from a wider selection of suppliers, a trader told ENGINE.

The ARA’s independently held fuel oil stocks have averaged 4% lower this month than in November, according to Insights Global data.

The region has imported 110,000 b/d of fuel oil in December, down from November’s 141,000 b/d, according to cargo tracker Vortexa. The majority of those cargo volumes have arrived from France (49%) and Poland (24%).

The region’s independent gasoil inventories - which include diesel and heating oil – have slumped 10% lower compared to November, according to the Insights Global data.

The ARA has imported 271,000 b/d of gasoil this month, up from the 225,000 b/d imported in November, according to Vortexa data. Kuwait has sent 65% of those volumes, while France has sent around 25%.

In Germany’s Hamburg, a notice of 3-5 days is still sufficient for delivery of all fuel grades, a trader told ENGINE.

In Gothenburg and off Skaw, a lead time of at least 10 days is advised to secure supplies of any fuel type due to tight availability, a trader said.

Mediterranean

Prompt bunker supply remains tight in Gibraltar Strait ports, with buyers advised to book around a week ahead to get more coverage from suppliers, a trader said.

Some suppliers are running around 12 hours late on deliveries in Gibraltar, while in neighbouring Algeciras, some suppliers are running 4-18 hours behind schedule, port agent MH Bland said. In Ceuta, some suppliers are running 4-6 hours after schedule, MH Bland added.

Rough weather with winds above 25 knots and waves above 2 metres are forecast in Gibraltar, Algeciras and Ceuta between 13-14 December, which could suspend bunker operations.

In Las Palmas, fuel supplies remain tight for prompt deliveries, and buyers are advised to enquire about stems with at least a week of lead time to avoid paying high premiums, a trader told ENGINE. Wind gusts of more than 30 knots and swells of over 4 metres are forecast in Las Palmas on 13 December, which could suspend all operations at anchorage and possibly also at berth.

In Spain’s Barcelona, deliveries of all fuel grades require around 5-7 days of lead time, a trader said.

Availability remains normal in Portugal's Lisbon, according to a source.

Demand is low off Malta and fuel availability remains stable, with delivery of all fuel grades possible promptly, a trader said. Some suppliers avoid reloading towards the end of the year to draw down fuel carried by delivery vessels, the trader added.

In Greece’s Piraeus, delivery of any fuel type is only possible from 15 December at the earliest, a trader told ENGINE.

Availability is normal in Türkiye's Istanbul, with 1-3 days of lead times sufficient for bunkering any fuel grade, a local supplier told ENGINE.

Africa

In Togo’s Lome, HSFO availability is very tight, while LSMGO and VLSFO deliveries can be arranged with around 5-7 days of lead time, a trader said.

VLSFO and LSMGO can be delivered in Nigeria’s Lagos, but buyers are always advised to book with around 5-7 days of lead times to arrange deliveries, a local supplier told ENGINE.

LSMGO remains immediately available in Sao Tome container port in Sao Tome & Principe, as well as the country’s Neves deepwater bunkering terminal, a local supplier told ENGINE.

HSFO deliveries remain extremely tight off Namibia’s Walvis Bay, and buyers are advised to book around 7-10 days ahead for VLSFO and LSMGO supplies, a trader said.

In Durban and Richards Bay, HSFO can be delivered with around a week of notice, while VLSFO can be delivered in around 2-4 days, a trader said.

HSFO availability is extremely tight in Port Louis’ Mauritius. Buyers are advised to book almost two weeks ahead, a trader said. VLSFO and LSMGO supplies are relatively faster to source, requiring around a week of notice each, the trader added.

By Nachiket Tekawade

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