EMEA News
Tightness Reported in Hamburg and Rotterdam Bunker Markets
Both Hamburg and Rotterdam are reported to be experiencing tight bunker avails this week, a situation said to have added upward pressure to prices.
Hamburg is reported to be suffering as demand from the bitumen market takes precedent over bunkers, but this was also said to be a common occurrence for this time of year.
"It is frustrating. But it is what it is, what can you do?" One source was quoted by Platts as saying.
In Rotterdam's case, tightness was reported by Platts to be being caused by two VLCCs loading product Thursday, an operation that was expected to take two to three days to complete.
After dipping on Monday, Ship & Bunker data showed IFO380 bunker prices in both Hamburg and Rotterdam since rose through Thursday to 2016 highs of $256 per metic tonne (pmt) and $244 pmt respectively.
This was, however, well within the global and regional trend, with Ship & Bunker's EMEA Average for IFO380 also hitting a 2016 high of $261.50 pmt on Thursday.
