The following article regarding bunker fuel availability in the Americas region has been provided by online marine fuel procurement platform ENGINE for post on Singapore bunkering publication Manifold Times:
12 May, 2022
LSMGO is particularly tight in New York and other East Coast ports amid dwindling stock levels and relentless pressure on the middle distillate pool. East Coast distillate inventories have slumped to 14-year lows, according to official EIA data. New York’s LSMGO price has shot up to premiums of around $300-400/mt over Houston, Los Angeles and Balboa.
US sanctions on Russian oil, and European self-sanctioning in the absence of any EU-wide ban, has contributed to tighten trans-Atlantic supply of middle distillates, which include diesel, jet fuel, heating oil and gasoil. High domestic US demand has added additional pressure.
US fuel oil inventories grew gradually from a December low to April, and have held steady into May, EIA figures show. April’s stock build was supported by an import influx, allowing for more to be supplied out to bulk terminals, blenders, power plants and for further refining.
Gulf Coast stocks have come down by 4% in so far May compared to April’s average, despite a near three-quarter rise in production levels. East Coast stocks are up by a marginal 1% amid a third higher production. West Coast stocks have grown by 17% with support from a quarter more production.
HSFO is tight for prompt dates across key Americas ports, including Houston, New York, Los Angeles and Long Beach, and in Panama. A supplier in Balboa can deliver in six days.
All grades have been in tight availability for prompt dates in Panama. Two suppliers’ earliest delivery dates in Balboa are 6-9 days out. Another supplier has limited VLSFO and LSMGO availability for dates a week out in Colon.
A supplier in Jamaica’s Kingston has had tight availability of VLSFO and LSMGO in this week, while two others can deliver prompt.
Prompt supply is tight with certain suppliers in Zona Comun, one with its earliest delivery date around eight days out. Two others can supply in 5-7 days. The Argentinian anchorage location is forecast with strong winds from Sunday to Tuesday next week, which could disrupt bunker deliveries.
There is still no VLSFO or LSMGO available in nearby Montevideo, but truck or barge supply of LSMGO could come back on offer later this month, a source says.
Photo credit and source: ENGINE
Published: 13 May, 2022
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