EMEA News
Durban Bunker Prices Drop as Refinery Comes Back Online
Wednesday August 12, 2015
IFO180 Bunker prices in Durban Monday dropped $43 per metric tonne (pmt) to $311.50 pmt, according to Ship & Bunker data, with sources indicating the development was a result of Engen's Enref refinery coming back online over the weekend.
It was the lowest price for the product seen since February 3, 2015.
"I think [the price drop} it is definitely related to the fact that the refinery is back online again," a trader was quoted as saying.
It is understood that the East Coast refinery was out of action for a month due to planned maintenance.
IFO180 prices in Durban hit a 2015 high of $467.50 pmt on May 8, after supplies came under pressure following a temporary shutdown of the SAPREF refinery.
