EMEA News
Istanbul Bunker Market Shrinks by 20%: Source
The bunker market in Istanbul has shrunk by about a fifth from its historic levels over the past two years, according to a market source in Turkey.
Total bunker demand at the Turkish port has slipped to just under 200,000 mt/month so far this year, down from 200,000 mt/year in the same period of 2019 and around 250,000 mt/month in previous years, the source said.
Demand from cruise ships in particular is likely to be lower this year, with much of the cruise industry now at a standstill.
The majority of the product sold in Istanbul is now imported from refiners in the Mediterranean and Black Sea, the source said, with only a small quantity of marine gasoil being supplied by local producers.
Istanbul has six physical suppliers operating a total of 55 bunker barges.
