India's Sep fuel oil consumption falls 4% on month on weaker demand
12th October 2020 22:00 GMT

India's fuel oil consumption fell 4.11% month on month to 490,000 mt in September on weaker demand from the domestic bunker sector, Petroleum Planning and Analysis Cell data released late-Oct. 9 showed.

"We saw fewer inquiries from the bunker market. Right now our main priority is meeting the bunker needs of our own vessels as well the West Coast ports," said a source at a West Coast Indian refiner.

Several refiners have estimated that India's bunkering demand has shrunk 15%-20% since the onset of the coronavirus pandemic in April from around 150,000 mt/month earlier, with most refiners having cut their fuel oil output as a result.

Refiners like Mangalore Refining and Petrochemicals Ltd. and Bharat Petroleum Corp. Ltd., which are occasional sellers of fuel oil on a spot tender basis, have not offered any cargo for export since May and June, respectively.

Hindustan Petroleum Corp. Ltd. has been the sole regular seller of spot cargo from India, and had last sold 27,000 mt high sulfur fuel oil cargo from Vizag for mid-October loading, market sources said.

Bunkerworld .,
12th October 2020 22:00 GMT