New Orleans IFO 380 prices volatile on barge congestion, product tightness
New Orleans bunker prices were volatile Thursday as availability for prompt deliveries appeared to be tight, according to market sources.
Bunker traders working business in New Orleans Thursday said IFO 380 CST was offered as low as $303/mt ex-wharf for 1,200 with no laycan provided, and up to $325/mt for 1,300 mt, and a February 19 laycan.
The lowest IFO 380 price reported by a bunker trader was $294/mt for 250 mt; however, a different trader indicated prices for 250-350 mt at $302-$305/mt.
According to a second bunker trader, one supplier was offering on a best endeavor basis until February 20. “Avails are good, but lots of barge congestion,” he said.
According to the second trader, a second supplier was in a similar situation and was offering for earliest delivery of February 23.
Speaking of a third supplier, the trader said, “very little RMG 380 remaining, approximately 500 mt. They must blend up a new tank,” he said.
Another supplier said deliveries after February 19 were not an issue. Some deals were done at $310/mt and some at $316/mt, he said.
This supplier reiterated hearing offers in the low $300s/mt for quantities of IFO 380 around 1,300 mt, but noted it was not willing to compete at such low levels.