Europe & Africa Fuel Availability Outlook 3 Dec

Prompt supply remains tight in the Gibraltar Strait

Demand in Malta remains soft, availability stable

VLSFO more readily available than HSFO in Durban

IMAGE: Oil products tanker moored at the Port of Gibraltar. Getty Images

Northwest Europe

Prompt fuel supplies are tight in the ARA, and lead times of between 5-7 days are advised for getting good coverage from suppliers, a trader told ENGINE.

The ARA’s independently held fuel oil stocks surged 15% higher in November, according to Insights Global data. That was their largest monthly average increase so far this year. They recovered from their lowest monthly average of the year in October.

The region imported 133,000 b/d of fuel oil in November, which was a bit more than October’s 127,000 b/d, according to cargo tracker Vortexa. The largest volumes came from the UK (17%), Poland (16%), France (14%) and the US (12%).

The region’s independent gasoil inventories - which include diesel and heating oil - dropped by 3% in November compared to October, according to the Insights Global data. The ARA imported 242,000 b/d of gasoil, inching down from the 259,000 b/d in October, according to Vortexa data. Top suppliers included Qatar, India (19%), Oman (16%) and the US (11%).

Germany’s Hamburg has normal bunker availability, and a notice of 3-5 days is sufficient to get delivery of any fuel type, a trader told ENGINE.

Buyers looking to bunker off Denmark’s Skaw and in Sweden’s Gothenburg are recommended to enquire with at least 10 days of notice, a trader said.

Mediterranean

Availability is tight in Gibraltar Strait ports, with deliveries of all fuel grades possible with a lead time of at least a week, according to a trader.

Suppliers in Gibraltar are running around 12-24 hours behind schedule, while in neighbouring Algeciras, deliveries are around 4-12 hours late, port agent MH Bland said.

HSFO deliveries in Las Palmas can take up to 10 days due to tight availability, while VLSFO and LSMGO supplies require lead times of 5-7 days, a trader said.

VLSFO supplies in the port of Barcelona may take up to 10 days, while LSMGO and HSFO require around 5-7 days of notice, a trader said.

Availability remains stable in Portugal’s Lisbon, a source said.

Bunker demand off Malta is in the low-to-medium range, while availability is ample, with 1-2 days enough for getting supplies of any fuel grade, a trader said. North-westerly winds of more than 25 knots and waves above 1.5 metres are forecast in the area on 4 December, which may delay bunkering or divert supplies to the more sheltered Bunkering Area 1.

Availability is stable in Greece’s Piraeus, and a prior notice of 2-3 days is required for delivery of HSFO and LSMGO supplies, a local supplier told ENGINE.  

Availability and demand remain strong in Turkey’s Istanbul and a notice of between 1-5 days is needed for delivery of VLSFO, ULSFO and LSMGO supplies, a local supplier said.

Africa

VLSFO and LSMGO availability at Togo’s Lome anchorage is tight for prompt dates, with around 5-7 days of notice needed for both grades, a trader told ENGINE.

At Nigeria’s Lagos anchorage, VLSFO and LSMGO deliveries need lead times between 5-7 days, a source told ENGINE.

Off Walvis Bay, buyers can get competitive VLSFO and LSMGO offers with around 5-7 days of notice, traders said, while one supplier said it requires a notice of just 1-2 days for both anchorage and offshore deliveries.

A local supplier in Sao Tome said it can provide LSMGO deliveries by barge at the Neves bunkering terminal. Deliveries can also be done by truck at the Ana Chavez Commercial Port, but that comes with a higher price premium due to transport costs.

In South Africa’s Durban, VLSFO deliveries are possible within 2-4 days, while HSFO supplies are tighter and can take up to a week, a trader told ENGINE.

In Mauritius’ Port Louis, buyers are advising lead times of more than two weeks for HSFO supplies, while VLSFO and LSMGO deliveries can take around 5-7 days, a trader said.

By Nachiket Tekawade

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