America’s bunker fuel availability ‘remains tight’

America’s bunker fuel availability ‘remains tight’

Panama’s bunker market remains tight, with lead times of around 4-5 days advised from suppliers that can deliver prompt in Balboa. Some other suppliers require longer lead times.

Balboa’s VLSFO and LSMGO prices have come down by $16-19/mt against Houston’s since the beginning of the week.

Prompt products are available across key Argentinian and Brazilian bunker locations, with lead times of around 2-4 days advised in Zona Comun, Rio Grande, Paranagua and Santos.

VLSFO remains unavailable in Montevideo, which used to be supplied with VLSFO from a domestic refinery. The refinery now only produces HSFO that is mostly supplied to paper mills, shipping agent Antares says.

HSFO380 can be tight at the Galveston Offshore Lightering Area (GOLA) and in the port of Corpus Christi, where the grade is only supplied ex-pipe at the MODA terminal. VLSFO and LSMGO grades are also tight for prompt dates in Corpus Christi, and priced $40-44/mt higher than in Houston.

Bunker supply is steady across fuel grades in the Houston area.

Lower imports and production contributed to draw residual fuel oil out of US storage tanks last week. The country’s stock levels came down to three-week lows after two consecutive weeks of draws, including a big draw on the East Coast, according to the Energy Information Administration (EIA).

Gulf Coast stocks have grown after a period of high production. Gulf Coast refineries produced an average of 87,000 bpd in the three most recent weeks, up from 37,000 bpd in the preceding three-week period.

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22nd November 2021