Bunker fuel oil loadings and deliveries have been disrupted due to stormy weather in Novorossiisk, traders said Friday.
The last storm warning has been issued at 10:30 Novorossiisk time [0730 GMT] today,” the Port Authority of Novorossiisk said.
According to market players, bunker fuel oil prices soared Friday as a result of restricted availability due to the bad weather.
“There have been already two storm warnings in the last two days that resulted in suspension of all bunker operations in the port of Novorossiisk,” one trader said.
“It is very hard to find supply for prompt dates, some suppliers are quoting from April 27 onwards. Physical bunker fuel oil deliveries will be halted due to storm in the next two days,” another source said.
Friday morning 380 CST HSFO basis Novorossiisk was offered at $265/mt on outright basis moving up by $19.50/mt from $245.50/mt assessed by Platts Thursday.Source: Platts', 'Novorossiisk bunker fuel prices firm as storms disrupt deliveries