ENGINE: Americas Bunker Fuel Availability Outlook
US fuel oil stocks have stood at roughly at the same position in the past two months, averaging 31.72 million bbls in April and 31.63 million bbls in March, data from the US Energy Information Administration (EIA) shows.
In the most recent week they were gauged, the US fuel oil stocks dropped 2% to 31.61 million bbls on 30 April. Most of the stockdraw was in the Gulf Coast region, where inventories came down by 3% on the week amid lower production.
Prompt supply of VLSFO has been tight in Port Arthur. Fewer suppliers deliver there than in the Houston area and some suppliers have repositioned their barges to deliver in the Houston this week. It takes around a day to move barges between the ports. LSMGO can be found more easily in Port Arthur at the moment, sources say.
All bunker grades continue to be tight in Vancouver, while ports on the US West Coast, including Los Angeles and Long Beach, have prompt product to supply.
Higher wholesale fuel import costs have put upward pressure on Panama’s VLSFO prices. Balboa’s price premium over ports in the Houston area have reached $25-30/mt now, coming from similar levels last month.
Caribbean ports have steady supply of VLSFO and LSMGO. HSFO380 remains limited in Jamaica’s Kingston and unavailable Off Trinidad.
VLSFO continues to be tight in Rio de Janeiro, which prices the grade around $15/mt above fellow Brazilian port Santos, where prompt availability remains good.
Ecuadorian ports have been resupplied, placing its suppliers in a better position to deliver stems in the region. HSFO380 availability is ample, while VLSFO can be tight still.
Source: ENGINE, https://engine.online/