World News
Galp Reintroduces HSFO Supply in Portugal
Portuguese energy producer Galp has reintroduced HSFO to its slate of marine fuel products.
The firm now has 380 CST HSFO available at Lisbon, Setubal and Sines, it said in an emailed note to customers on Thursday.
The company had stopped HSFO supply in the run-up to the IMO 2020 transition to focus on VLSFO. But last month the firm told Ship & Bunker it was planning to reintroduce HSFO in early August.
HSFO demand is on the rise again with growing scrubber installations. Red Sea diversions are also increasing demand, with container ships being the most likely to take longer voyages around Africa to avoid Houthi attacks, and this segment being the most likely to have scrubbers equipped.
Galp sold a total of 350,000 mt of bunker fuels in the first half of 2024.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 581.00 | 2.00 | 625.00 | 3.00 |
| Rotterdam | 506.00 | 2.50 | 616.00 | 3.50 |
| Houston | 500.50 | 2.50 | 634.50 | 4.00 |
| Fujairah | 574.00 | 3.00 | 774.50 | 1.50 |
| Global 20 Ports Average | 591.50 | 2.00 | 733.50 | 3.00 |
| Global 4 Ports Average | 540.00 | 0.50 | 662.50 | 0.50 |
| Global Average Bunker Price | 637.00 | 2.00 | 808.00 | 0.00 |
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