The lack of bunker fuel at the German port of Hamburg is set to last another month, according to market sources.
While it is usual for local refineries to switch production away from the marine market to the bitumen market during the summer months, it has been more pronounced this year than in previous years.
“Demand for the bitumen sector is significantly greater this year than in others,” said one bunker trader. “And it looks like the situation will last into August.”
But the lack of product is frustrating. Weekly volumes for players have dropped to the hundreds of tonnes of fuel oil from the more usual weekly total of thousands of tonnes.
What fuel oil that does arrive at the port is soon snapped up, players have said. Platts assessed 380 CST fuel oil in Hamburg Wednesday unchanged on the day at $255.50/mt.
Supplies of low sulfur marine gas in Hamburg are unaffected.
Source: PlattsPrevious Next