Deals give indication of current market price. File image/Pixabay.
Shipowner Euronav has bought enough International Maritime Organisation (IMO) compliant fuel to fill an ultra large crude carrier, according to reports.
Citing data from vessel-tracking firm Vortexa, price reporting agency Argus Media said: "Euronav purchased at least seven 30,000 a metric tonne (mt) cargoes from different suppliers since March to store onto the tanker Oceania."
Citing market sources the report said that the company "bid at a $35/mt premium to high-sulphur Rotterdam fuel oil barges last week, implying an outright price of $379.75/t on 14 June for its latest low-sulphur oil cargo".
The deal could not be confirmed with the company, Argus said.