In International Shipping News 08/05/2015
Durban high sulfur fuel bunker prices have climbed to the highest level in the past six months on a lack of supply, sources said Thursday.
Ex-wharf Durban 180 CST high sulfur bunker prices surged $35/mt to $480.50/mt Wednesday and were heard indicated at that level Thursday morning.
This was the highest price since November 12 2014, Platts data shows.
“It is due to tight avails,” a trader said.
The SAPREF refinery in Durban, a joint venture between Shell and BP, went into maintenance April 20 following a fire.
The maintenance was originally scheduled to start May 1 until mid-June, but was brought forward.
“All the traders I have been speaking to have not got any quotes at all and I cannot reach Engen,” a trader said.
BP and Shell are thought to be short of product, while Engen has reportedly sold more than anticipated over the last two weeks owing to the SAPREF maintenance and has been quoting intermittently, according to sources.
