Asia/Pacific News
Typhoon Nida Suspends Bunkering Activity in Hong Kong
Typhoon Nida halted bunkering activity in Hong Kong Tuesday, with traders unsure when normal operations would resume, Platts reports.
"Bunkering activities are still halted, as far as I know," one trader said, adding: "it may resume later today, but we don't know yet - it depends on the weather."
The Hong Kong Observatory issued a No. 8 typhoon signal on Monday night for Typhoon Nida, with the storm bringing rain and gale-force winds when it hit Hong Kong on Tuesday.
"There's no loading from oil terminals or bunkering allowed once the warning signal hit No. 3, so operations and schedules will be delayed for sure," said a market source.
With most noted to have been working from home Tuesday morning, traders in Hong Kong were said to be making their way back to their offices following a downgrade of the typhoon.
"Terminals will probably be jammed and barge availabilities might be tight, but there are ways to settle that ... bunker fuel prices for prompt loadings might be higher too," said a source.
However, traders expressed confidence that the market would return to normal soon, with one trader commenting: "it's only today [Tuesday] and maybe tomorrow that bunkering will be affected, so I don't think the storm will cause more delays than this. We don't see much impact on prices either."
