Asia/Pacific News
Tight Bunker Avails at China's Qingdao Port Following Typhoons: Market Sources
Market sources say recent rough weather conditions has left the Chinese port of Qingdao with low bunker avails for the past two weeks, Platts reports.
Several sources Thursday said stocks of China Petroleum & Chemical Corporation (Sinopec) - one of the major suppliers at the port, along with China Marine Bunker (Petro China) Co., Ltd (Chimbusco) - were understood to be running low.
"There have been quite a number of typhoons recently and there have been cargo delays," said one source Thursday, adding: "the delivery is scheduled to arrive by the end of this week."
Another source commenting on the situation, said: "new cargoes will arrive soon, and after that, availabilities should be better."
While no significant price rises on bunkers had been reported in the Qingdao area Thursday, some sources said they worried that the tight avails could lead to some demand to be shifted to Japan.
Qingdao's total bunker fuel volumes is estimated by local traders to be around 60,000-100,000 metric tonnes (mt) per month.
Earlier this month, Ship & Bunker reported that Hong Kong bunker operations were halted as a result of Typhoon Sarika and Typhoon Haima
