Red Sea Bunkering is adding floating marine fuel storage to the Djibouti market, seeking to boost volumes. File Image / Pixabay
Last week's blockage of the Suez Canal delivered a significant boost to marine fuel volumes at Djibouti, highlighting the country's potential as a bunkering location for ships passing through the Gulf of Aden and the Red Sea.
Bunker volumes were up by around 25% from their normal levels last week as the 20,000 TEU container ship Ever Given blocked the canal, leaving a queue of ships building either side, a market source told Ship & Bunker on Tuesday.
"Whilst this was a temporary increase, we hope that this could encourage buyers to consider Djibouti as a great alternative to other Suez ports from operational as well as financial point of view," the source added.
Earlier this year local supplier Red Sea Bunkering announced it had acquired an 80,000 DWT product tanker to act as floating marine fuel storage offshore Djibouti.
Last year the company also signed a deal with Chimbusco to bring a floating fuel production facility to the country that could produce as much as 6 million mt/year of VLSFO.