Market Sources: Demand Boost Puts Pressure on Avails at St Petersburg

Increased demand is said to have tightened avails and provided support to prices at the port.

Market sources say bunker avails at the Port of St Petersburg have tightened on increased demand, providing support to prices, Platts reports.

According to Ship & Bunker data, price indications for IFO 380 Friday hit 197 per metric tonne, a gain of $31 over the previous two weeks.

"There isn't quite the supply to meet the demand," said one St Petersburg-based bunker supplier.

The news comes following a below-average month in September, indicating that the market could be returning an expected level of demand.

"Demand is big these days, in all ports both in the Baltic and Black sea," said a St Petersburg-based trader.

Rising crude prices resulting from a proposed OPEC production freeze is said to be one reason for the firmer market conditions.



What's Next: a glance into the future of shipping


First Voyage for European LNG Bunker Tanker

Skangas duel fuel LNG carrier Coral Energy (image credit/Skangas) Liquified natural gas (LNG) bunker tanker Coralius has made its first trip loading and delivering LNG to and from Norwegian ports, according to trade press reports. The 5,800 cubic meter capacity tanker, which is owned by Norwegian gas company Skangas, was delivered to the company in June. Skangas also operates LNG carrier Coral Energy. "Skangas off

OPEC Cutback Extension to be Discussed in November, But Developments Could Render Any Deal Meaningless

Analysts say everything from Saudi exploration to rising tensions with North Korea could radically alter the dynamics of the international market. File Image / Pixabay Ever since the Organization of the Petroleum Exporting Countries (OPEC) extended the duration of its production cuts earlier this year to March of 2018, speculation has been rampant that the meager cutback volume coupled with the large number of members
BMS Bunkers

360° Contact 24/7