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ENGINE: Americas Bunker Fuel Availability Outlook

Bunker fuel oils are in tight supply in New York, and lead times have gone up after weather disruptions in Zona Comun.

Supply of VLSFO, and especially HSFO380, has been tight in New York. Lead times of 5-7 days are recommended to ensure supply in the US East Coast’s biggest port.

Fuel oil inventories across the East Coast have been drawn down to their lowest levels in over two years, according to the latest data from the Energy Information Administration (EIA).

The US Gulf Coast region’s fuel oil inventories continue to grow, despite waning production in the wake of Hurricane Ida and tropical storm Nicholas. A slowdown in volumes supplied from refineries, blenders and bulk terminals this month, as well as higher imports, may have compensated for the production shortfall and built stocks.

Availability has gotten tighter in Corpus Christi’s bunker market. The earliest expected delivery date is around 5-6 days out for two suppliers.

There are also pockets of tightness in the Houston area, with two suppliers there having tight availability for certain dates over the next week.

Los Angeles and Long Beach are seeing a record vessel congestion amid unprecedented import demand. Over 60 container vessels have been forced to wait for entry to the ports. The peak summer season for imported goods has been supercharged by pent-up demand unleashed with a recovering US economy this year.

The twin ports are gateways for consumer goods flowing into California and further inland. They are the country’s biggest container ports, handling 40% of US container imports and 30% of its exports.

HSFO remains in limited supply in the Caribbean islands of Aruba and Curacao. A supplier’s earliest expected delivery date has been pushed back to least two weeks out.

Calmer weather conditions have allowed bunkering to resume at the Zona Comun anchorage. Strong winds and fog suspended bunkering on Monday and Tuesday, delaying several vessels. Suppliers have been catching up with backlogs and at least six vessels were scheduled to arrive for bunkers on Wednesday and Thursday.

Certain suppliers have quoted their earliest delivery dates for VLSFO and LSMGO in Zona Comun 9-10 days out after the weather disruptions. It seems more an issue of tight bunker delivery schedules than a lack of fuel volumes to supply.

Local shipping agent Antares has said stock levels of VLSFO and LSMGO are “normal” for refineries supplying the Buenos Aires and Zona Comun bunker markets.
Source: ENGINE (https://engine.online/)

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