European and African bunker prices have edged down, tracking Brent as the futures contract falls for a fourth consecutive day.
Changes on the day to 08.00 GMT today:
- VLSFO prices down in Gibraltar ($7/mt), Durban ($2/mt) and Rotterdam ($1/mt)
- LSMGO prices down in Rotterdam ($3/mt) and Gibraltar and Durban ($1/mt)
- HSFO prices down in Rotterdam ($4/mt) and Gibraltar ($1/mt)
Several lower-priced stems have weighed on Gibraltar’s VLSFO price, pulling it down to wider regional discounts, including $12/mt below Malta’s price, and to near parity with Rotterdam.
Fuel availability is plentiful in Gibraltar. Congestion remains minimal in the port this morning with only one vessel waiting for a bunker barge to become ready, port agent MH Bland says.
Lower swell is forecast in Las Palmas today, which could allow for outer anchorage bunkering. Moderate swell is expected again tomorrow morning, and from Monday next week.
There is also less swell in Port Elizabeth and Algoa Bay today, where VLSFO remains at an $8/mt price premium over Durban.
“Algoa Bay is currently experiencing calm – moderate weather conditions with favorable wind speeds providing for safe working conditions for bunker barges within the Bay,” shipping agent Sturrock Grindrod says.
Three vessels are scheduled to arrive for bunkering in Algoa Bay today. Another four will arrive tomorrow and Friday, and weather conditions are expected to “remain fairly consistent throughout the week,” according to Sturrock Grindrod.