EMEA News
Tightness in Rotterdam Bunker Market Set to Continue: Sources
Monday July 4, 2016
Last week's tight avails of HFO in Rotterdam is improving, but set to persist this week, according to sources quoted by Platts.
As previously reported, the situation was said to have been caused by two VLCCs loading product Thursday, an operation that was originally expected to take two to three days to complete.
Adding to the issue of a lack of ample product, there was also speculation that some players may be holding product back, and instead waiting until prices rose before offering it to the market.
Ship & Bunker data Friday showed IFO380 prices in the port had risen to a 2016 high of $248 per metric tonne.
Earlier this year prices in the port were at their lowest over the past several years, and in January sunk to $109 pmt.
