Petrobras hikes bunker prices during Carnival holiday

The supplier has recommended that customers either anticipate or postpone their bunkering requirements to avoid the Carnival pricing window.

IMAGE: Container terminal at the port of Santos, Brazil. Getty Images.

Brazil’s state-controlled energy major Petrobras announced that its headquarters will be closed for bunker sales activities from 16–18 February due to the Carnival holiday.

During this period, bunker product prices will be temporarily higher than usual, according to a note sent to clients on Wednesday.

A bunker trader told ENGINE that prices could rise by approximately $10–20/mt.

All new bunker sales requests during the two days will be handled by Petrobras’ Rotterdam office, which will remain fully operational. The company added that its team will only be available for matters strictly related to previously confirmed sales during the holiday window.

In Brazil, HSFO is no longer available. VLSFO and LSMGO availability is steady in Santos, with lead times of around 5–8 days. In Rio de Janeiro, Rio Grande, Belém, and Vila do Conde, availability is okay for both grades and requires 4-5 days, a source said.

Last week, the Brazilian state energy producer announced a rollback on volume-linked bunker discounts at the Port of Santos, saying it will discontinue differentiated pricing for stems above 1500 mt from 1 March.

By Gautamee Hazarika

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