EMEA News
New Fujairah Attack Adds More Turmoil to Bunker Market
A new attack reportedly targeting the Fujairah oil tanks area on Sunday has added more uncertainty to the bunker market as regional tensions continue to escalate.
The authorities have succeeded in bringing under control a fire that broke out as a result of falling shrapnel following the successful interception by air defence systems, Fujairah Media Office said in a social media post on Monday.
Product loading at Fujairah Oil Tanker Terminal (FOTT) stopped after last night's attack, a source told Ship & Bunker on Monday.
Fujairah is the third-largest bunker port in the world.
Most marine fuels are stored at liquid bulk terminals within the Fujairah Oil Industry Zone (FOIZ), loaded through the FOTT, and then delivered to vessels at the Fujairah Anchorage Area (FAA) by bunker barges, according to Port of Fujairah’s website.
The latest incident has added more concerns in the Fujairah market, where some suppliers have declared force majeure and stopped bunker offering due to security concerns, two sources told Ship & Bunker.
All vessels were told to cast off from oil tanker berths and proceed to a safer anchorage area, a source said.
The status of FOTT operations remains unknown.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 822.50 | 127.00 | 1383.00 | 226.00 |
| Rotterdam | 631.50 | 16.00 | 1053.50 | 27.50 |
| Houston | 668.00 | 67.50 | 1138.50 | 122.00 |
| Fujairah | 742.50 | 51.00 | 1202.00 | 41.50 |
| EMEA Average | 673.50 | 33.00 | 1155.50 | 109.00 |
| Global 20 Ports Average | 735.00 | 53.50 | 1153.50 | 45.50 |
| Global 4 Ports Average | 716.00 | 65.50 | 1194.50 | 104.50 |
| Global Average Bunker Price | 740.00 | 49.50 | 1134.50 | 60.00 |
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Mar 09Sources tell Ship & Bunker that barge loadings have been suspended following the Sunday incident. -
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