Europe & Africa Fuel Availability Outlook 1 July

Prompt fuel availability is tight in the Gibraltar Strait ports

Rough seas disrupt bunkering in Las Palmas

Lead times of 5-6 days recommended in Angola's Luanda

IMAGE: Aerial view of the Bay of Gibraltar. Getty Images

Northwest Europe

Bunker fuel availability is very tight for prompt delivery dates in the ARA, with buyers recommended to book HSFO and VLSFO stems around seven days in advance to avoid high premiums, while LSMGO supplies may take around five days, a trader told ENGINE.

The ARA’s independently held fuel oil stocks have averaged around 8% higher in the penultimate week of June, compared to May, 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 247,000 b/d of fuel oil in June, slightly higher than May’s monthly average of 230,000 b/d, according to Vortexa’s cargo data. Most of June’s shipments have come from Syria (16%), Venezuela (15%) and UK (12%).

The region’s independent gasoil inventories - which include diesel and heating oil – have dropped 1% in June compared to May. Gasoil inventories are at their lowest level in around two and a half years.

The ARA hub imported 178,000 b/d of gasoil in June, down from 204,000 b/d imported in May, Vortexa data showed. June’s shipments have come mainly from the U.S (32%), the U.K (19%) and Lithuania (9%).

Marine fuels supply is stable in Germany’s Hamburg, and any fuel grade stem can be secured with a notice of around five days, a trader told ENGINE.

Buyers off Denmark’s Skaw and in Sweden’s Gothenburg are advised to book around 10 days ahead 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 get good coverage from suppliers, a trader said.

Rough winds of around 25 knots are forecast in the area between 3-4 July, which may complicate bunkering in the Gibraltar Strait ports.

Rough seas, with swells between 1.5-2 metres high, are forecast in the area between 1-3 July. Bunkering operations have been currently suspended, except for those vessels berthed alongside and those anchored within the breakwaters, port agent MH Bland said.

Fuel availability is reportedly tight for prompt delivery dates in the Canary Islands bunkering hub, a trader told ENGINE. Buyers are usually recommended lead times between 7-10 days for delivery of any fuel grade.

Off Malta, VLSFO availability is tight in the past week, with deliveries possible around 5-7 days out, a trader said. LSMGO availability is relatively better, the trader said.

In Greek’s Piraeus, fuel availability has tightened for all fuel grades, with buyers advised to book stems around seven days ahead, a trader told ENGINE.

Availability of fuel oil grades like VLSFO and ULSFO are tight in Turkey’s Istanbul, while LSMGO supply is stable, a local supplier told ENGINE.

Africa

In Togo’s Lome, 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 5-7 days, a local supplier told ENGINE.

In Angola’s Luanda, a supplier requested lead times of 5-6 days for VLSFO and LSMGO suppliers.

Off Namibia’s Walvis Bay, buyers are advised to allow around 10 days for delivery, 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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