Operations at Fujairah, the third-largest bunkering hub, continue to be disrupted by flooding across the UAE following heavy rains over July 27-28, traders told S&P Global Commodity Insights Aug. 1.
Bunkering has started but at the moment not all suppliers are able to supply as some have to load the barges, and barge loading has not yet resumed,” a Dubai-based trader told S&P Global Aug. 1.
“Availability is a major issue, and hardly any supply is available. No supplier is offering due to uncertainty over port schedule and logistical problems due to the floods not being completely sorted yet,” the trader added.
A second trader said that “uncertainty over new cargoes continued, [and there is] no clarity on when fresh supply will be available. Limited stock is present on the barges that already held supplies when the flood hit Fujairah.”
“Inquiries are coming in and [there is] strong demand. Prices are no more decided based on the market but by whoever has supply. No clear set prices have been heard as of now,” the second trader added.
Platts assessed marine fuel 0.5%S delivered to Fujairah at $/mt, at a premium of $45 to Singapore-delivered marine fuel 0.5%S Aug. 1.
The port was not available for comment when contacted by S&P Global. Efforts to reach suppliers in Fujairah were also unsuccessful.
