The Engine: Europe & Africa Bunker Fuel Availability Outlook (20 Nov 2024) provides insights into the bunker fuel supply situation in Europe and Africa. According to the report, there is a significant shortage of medium and heavy grades of bunker fuel in European ports, particularly in Rotterdam and Amsterdam. This is due to a combination of factors, including:
* Reduced supply from refineries in the region
* Increased demand from shipping and power generation
* Unavailability of suitable vessels for transportation
* Port restrictions and congestion
In contrast, there is a relatively stable supply of light fuel oil in European ports, with no major shortages anticipated.
In Africa, there are concerns about the reliability of supply in certain countries, including South Africa, Nigeria, and Egypt. This is due to a range of factors, including:
* Political instability
* Security concerns
* Infrastructure limitations
* Weather-related disruptions
The report advises bunker fuel buyers to plan ahead, negotiate flexible contracts, and consider alternative suppliers to mitigate the impact of potential shortages.