Bunker demand at LA and Long Beach slipped by 2.5% on the year in Q1-Q3 of 2022. File Image / Pixabay
Global marine fuel supplier and trading firm Minerva Bunkering is set to halt physical supply at the ports of Los Angeles and Long Beach.
The firm is set to withdraw from physical supply at the LA/Long Beach market and hand back its barges there, market sources told Ship & Bunker. A company representative declined to comment on the development.
The move may be related to a change in storage facilities available to the market, sources said. Vopak is repurposing 22 oil storage tanks totalling 148,000 m3 of capacity to sustainable aviation fuel and biodiesel, according to its website.
The Los Angeles and Long Beach bunker markets saw combined sales of about 2.36 million mt in the first three quarters of 2022, according to Ship & Bunker and BLUE Insight's market survey, down by 2.5% from the same period of 2021.