EMEA News
Piraeus Volumes Poised to Drop As Cruise Season Ends
Monday November 18, 2013
The bunker market at Greece's Port of Piraeus will drop 20 percent as the passenger cruise season ends, sources told Platts.
Fuel demand has already been declining over the past two weeks as the Mediterranean tourist season winds down.
"On average, Piraeus monthly traded bunker fuel oil volumes will drop by 10,000 tonnes per month in the winter season," one source said.
The cruise season, which officially ended November 15, will start again in March or April.
Traders said the drop in volumes has not affected prices yet.
The price of IFO 380 fuel oil at the port stood at $599.50 per metric tonne (mt) as of November 15, according to Ship & Bunker data.
