EMEA News
Iranian Attacks Disrupt Bunkering Activity in Fujairah
Iranian attacks on the UAE have begun disrupting bunkering activity in Fujairah, the world’s third-largest marine fuels hub, including a fire at the Fujairah Oil Industry Zone (FOIZ) on Tuesday, caused by drone intercept debris.
Some bunker orders have been cancelled since the conflict broke out over the weekend, sources told Ship & Bunker on Wednesday.
Port operations in Fujairah appear to run normally, but several suppliers are holding back on bunker deliveries due to security risks, a source said.
Some suppliers have opted to halt deliveries as a precautionary step and are avoiding quoting offers, a trader said.
Analytics firm Spotbarge, which analyses bunkering activity using AIS data and other sources, told Ship & Bunker on Tuesday it is seeing a significant drop in bunkering activity at the port.
"I think 70-80% of the bunker barges went offline," Sebastiaan Kosman, the company's founder, said.
Some sources fear that if the conflict extends further, it could cause further disruption.
A trader also told Ship & Bunker that truck deliveries in nearby Khor Fakkan have been facing challenges.
According to Ship & Bunker data, Fujairah’s VLSFO price has spiked by $109/mt since Friday to $629/mt on Tuesday, largely due to an increase in underlying crude values.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 640.50 | 66.00 | 967.50 | 157.00 |
| Rotterdam | 573.50 | 42.50 | 944.50 | 132.50 |
| Houston | 579.00 | 26.00 | 923.00 | 103.50 |
| Fujairah | 629.00 | 65.00 | 1044.50 | 163.50 |
| EMEA Average | 603.00 | 45.00 | 973.50 | 106.00 |
| Global 20 Ports Average | 629.00 | 41.50 | 981.50 | 104.00 |
| Global 4 Ports Average | 605.50 | 50.00 | 970.00 | 139.00 |
| Global Average Bunker Price | 635.00 | 30.50 | 948.50 | 75.00 |
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