Australia's bunker market is heavily reliant upon the cruise industry. File Image / Pixabay
Australia's bunker market has seen a heavy impact from the COVID-19 pandemic shutting down the cruise industry, with sales nearing as low as half the levels seen before the crisis.
VLSFO sales in Australia are now 30-50% lower than the levels seen before the start of the pandemic, price reporting agency S&P Global Platts reported on Friday, citing local market sources.
HSFO sales have also 'evaporated', Platts cited a local trader as saying.
The cruise industry, normally taking up around 4% of global bunker demand, dropped to a standstill last year over fears of transmission of the virus and lockdown measures. The industry has now started to restart, but activity this year will remain much lower than in previous pre-pandemic years.
Australia will not be receiving any foreign-flagged cruise ships until at least September 17.