Sinopec Hong Kong suspends 180 CST bunker fuel spot offers on supply tightness

Hong Kong bunker supplier Sinopec Hong Kong has suspended offering spot 180 CST bunker fuel until August 9-10 on a delivery basis because of a tightness in supply, a company source said Wednesday.
While the source did not disclose the reason behind the supply tightness, one bunker supplier based in Hong Kong said this was likely due to firm sales of 180 CST grade bunker fuel.
Sinopec Hong Kong however, is able to meet its bunker fuel term commitments, another bunker supplier said.
The company has about 80% share of the 180 CST bunker fuel market, a supplier said. Nevertheless, the situation is not serious, because other importers such as ExxonMobil have sufficient supply, a supplier said.
Sinopec Hong Kong will receive a fresh cargo for 180 CST bunker fuel before August 10, which will ease the supply tightness, said a supplier.
Source: Platts