Europe & Africa Fuel Availability Outlook 24 June
Prompt fuel availability is very tight in the ARA
HSFO and ULSFO deliveries need long lead times in Piraeus
Notice of 4-5 days needed for VLSFO and LSMGO in Luanda
IMAGE: The Port of Piraeus in Athens, Greece. Getty Images
Northwest Europe
Prompt fuel availability is very tight for all fuel grades, with suppliers continuing to face delays at loading terminals. Buyers are recommended to book around seven days in advance for VLSFO and HSFO supplies, and five days for LSMGO, to get competitive offers from a wide range of suppliers, a trader said.
The ARA’s independently held fuel oil stocks remain mostly unchanged in June so far, compared to May’s monthly average, according to Insights Global data. Fuel oil stocks in the ARA hub have gained slightly from May’s inventory levels, which were the lowest seen in more than a decade.
The ARA hub has imported 220,000 b/d of fuel oil in June so far, slightly lower than May’s monthly average of 230,000 b/d, according to data from cargo tracker Vortexa. Most of June’s cargoes have come from Syria (24%), U.S. Virgin Islands (14%) and Colombia (13%).
The region’s independent gasoil inventories - which include diesel and heating oil – have gained 10,000 bbls in June so far compared to May. Gasoil inventories have fallen to their lowest level in around two and a half years.
The ARA hub imported 192,000 b/d of gasoil in June, down from 204,000 b/d imported in May, Vortexa data showed. Around 34% of June’s shipments have come from the U.S, while the U.K (22%) and Canada (10%) also contributed supplies.
Fuel availability is stable in Germany’s Hamburg, with buyers advised a notice of around five days to get deliveries of any fuel grade, a trader told ENGINE. Biofuel demand is very low in the port with tiny volumes supplied, the trader told ENGINE.
Buyers off Denmark’s Skaw and in Sweden’s Gothenburg are recommended to book with a lead time of around 10 days for any fuel grade, according to a trader.
Mediterranean
Bunker availability remains very tight for prompt delivery dates in Gibraltar, Algeciras and Ceuta, with buyers recommended to book around 10 days ahead to avoid high premiums, a trader said.
Gibraltar is seeing strong summer demand. The port authority recorded 599 bunker calls last month, which were the highest ever on record.
Availability is tight in Las Palmas for prompt delivery dates, with buyers advised to book with a notice of between 7-10 days to get deliveries of any fuel grade, a trader told ENGINE.
Off Malta, VLSFO availability has tightened in the past week, with deliveries possible around 5-7 days out, a trader said. LSMGO fuel availability remains stable while HSFO is unavailable in the port, the trader added.
In Greek’s Piraeus, suppliers are quoting lead times of around 8-10 days for HSFO and ULSFO supplies, a trader said. LSMGO and VLSFO supplies remain relatively stable.
In Turkey’s Istanbul, fuel availability is normal for all fuel grades, with notice of around 1-3 days sufficient to secure deliveries, a trader told ENGINE.
Africa
In Togo’s Lome, marine fuel buyers are advised to book VLSFO and LSMGO stems around 10 days in advance, a trader said.
In Nigeria’s Lagos, VLSFO supplies require lead times of around a week, a local supplier told ENGINE.
In Angola’s Luanda, a supplier said VLSFO and LSMGO can be delivered with lead times of around 4-5 days.
Off Namibia’s Walvis Bay, buyers are advised to allow around 10 days for delivery because of strong demand, the trader said.
Bunker availability is tight for prompt delivery dates in South Africa’s Durban and off Algoa Bay, a trader said. Buyers are advised to book stems at least 5-7 days ahead.
In Mozambique’s Nacala and Maputo, suppliers are recommending lead times of around 7-10 days for VLSFO, a trader said.
Bunker fuel availability is very tight in Mauritius’ Port Louis, where buyers are advised to book 10-15 days ahead for all fuel grades, according to a trader.
By Nachiket Tekawade
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