World News
Indian Port Sees Big Jump in Bunker Sales
Bunker sales at Cochin Port in Kochi, India, have seen big jump this month, the New Indian Express Reports.
According to the report, bunker sales this month are approaching 11,000 tonnes, up from the usual 6,000 to 8,000 tonnes.
And next month bunker volumes should see a further boost, according to Praveen Jaiswal, GM - Head Operations of India based bunker supplier Chemoil Adani, which accounts for 40 to 50% of the total sales volume sold at Kochi through physical suppliers HPC & Bharat Matrix.
Jaiswal told Ship & Bunker that credit for the increased sales should go to Shri Paul Antony, Chairman of the Cochin Port Trust.
"He has streamlined a number of activities at Kochi Port which includes: Barge loading facility, simplification of Customs formalities, approval for bunkering in Outer anchorage at operating level," he said.
"Due to his efforts the State Government is reducing VAT w.e.f. from April 1 which will further give a boost to the overall sales volume."
"In addition, availability of product, competitive pricing and credit to customers have also helped in attracting volumes from other ports. Deployment of higher capacity barges with good pumping facility are also among the reasons attributable for improvement in sales volumes at Kochi."
Bunkering volumes at the port were said to be starting to rise last year after the reduction of value added tax (VAT) rates there to 0.5 percent
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Cochin (Kochi) |
- login to view prices or subscribe from just $59 - |
|||
| Singapore | 641.00 | 4.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 629.50 | 2.00 | 802.50 | 6.50 |
| Fujairah | 647.50 | 2.00 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
Popular Now More
-
Apr 23The ship had come to Singapore from St Petersburg. -
Apr 22The 46,000 DWT MR2 chemical tanker Green Land was arrested at about 3:30 PM on April 17. -
Apr 22Iranian fuel oil has been widely reported to have been resold in the bunker markets of ports in the region for years, as well as being exported further afield.