Asia/Pacific News
Hong Kong Bunkering Halted Ahead of Typhoon Haima
Hong Kong saw bunker operations halted Friday after the Hong Kong Observatory issued a No 8 storm warning at 6:10 a.m. on the approach of Typhoon Haima, Platts reports.
This is the second time operations at the port have been halted in nearly two weeks after bunker operations at Hong Kong were halted early last week due to strong winds from Typhoon Sarika.
In an update, the Hong Kong Observatory said that Typhoon Haima "will be closest to Hong Kong around noon, skirting about 100 km to the east of the territory," with the No 8 storm warning expected to remain in effect for most of the day.
Bunker traders late Thursday estimated that delivery schedules could be back on track on Tuesday at the earliest.
"There are some suppliers whose earliest [delivery expectation time is] is October 25," said a trader, noting that the typhoon is expected to clear Hong Kong by Saturday, but delivery schedules will likely be stressed as some suppliers were "already tight even before the typhoon."
"Prices should be supported, I guess," added the trader.
Some Hong Kong-based traders earlier this week said that buyers should be prepared to pay more to enable prompt delivery when operations resume.
"Physical operations will likely be jammed, so suppliers may not offer as actively," said one trader Tuesday.
Ship & Bunker data shows that IFO 380 prices have been on the rise since Tuesday, swelling from $293.50 per metric tonne (pmt) to $299 pmt on Thursday, an $8 pmt week on week increase.
