Las Palmas delivered bunker fuel prices drop on new supplies, source

Las Palmas delivered bunker fuel supplies were running smoothly on improved ability Monday after two weeks of low stocks, sources said.

"Cepsa and Aegean are back in business with HSFO deliveries after both physical suppliers lacked material to quote," a trader said.

Although business was slow Monday, sources said indicative levels were $605-612/mt for 380 CST HSFO.

Las Palmas delivered HS bunker fuel prices tumbled on fresh supplies for prompt deliveries Thursday after both bunker suppliers reported plenty of bunker fuel with the arrival of fresh cargoes, the source said Friday.

According to Platts data, 380 CST HSFO fell to three months low of $602.50/mt Thursday then rose slightly to $605.50/mt Friday on rising demand, sources said.

Short supply had boosted 380 CST HSFO to $620.50/mt on November 1, Platts data shows.

Meanwhile, Las Palmas delivered bunker barge premiums (the fee bunker barges charge) fell by $9.25/mt to $28.50/mt over CIF Mediterranean 3.5% cargoes Thursday after reaching $37.50/mt on November 1, Platts data shows.

Delivered barge premiums eased further to $27/mt Friday, Platts data shows.
Source: Platts