23-06-2017

Istanbul bunker fuel market tightens ahead of national holiday

Bunker

Access to bunker fuel barges at Istanbul, Turkey, has been tightening though the week ahead of a week of holiday June 24-30, sources said. “It is a bit difficult with suppliers due to the Ramadan period,” a trader said Thursday. For now, this does not present acute difficulties, “There is a bit of tightness but it is not unworkable,” the trader added.

The tightness applies to barges more than to product availability, sources said.

Demand has been variable, “Demand is good and it will be tight,” a supplier said Wednesday. “Orders must be in by noon June 23,” the supplier said.

Buying appetite slackened Thursday, a supplier said.

The coming barge bottleneck was expected, sources said. Prices at the port have been steady, tracking international prices. 380 CST bunker fuel at the port was assessed at $291/mt delivered Wednesday, edging down from $295/mt delivered at the beginning of the week.

Source: Platts 

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