Demand for bunker fuel in Bangladesh weakens amid high prices, bad weather
18th August 2021 10:38 GMT

Demand for bunker fuel in Bangladesh has fallen over the past week due to higher prices and poor weather conditions, with some Outer Port Limit (OPL) bunker deliveries at the port of Chittagong now suspended as a result, market sources said.

The port of Chittagong wasn't immediately available to comment on the matter Aug. 18.

In June, the government imported 15,000 mt of 0.5% sulfur marine fuel, boosting availability of the grade at the time.

But it has also fixed the selling price for the fuel at $584/mt.

“Demand was slow in the month of June and during August 2021. We are experiencing a lack of buying interest from ship owners due to higher prices. Earlier, it was better from January to May,” according to one member of the Bangladesh Bunker Supplier Association (BBSA).

“Out of the 15,000 mt government cargo, only 1,500 mt is sold and the remaining 13,500 mt is still left. Hopefully, from September onwards, we can expect a better demand due to import rise and good weather conditions for the OPL deliveries,” he added.

“There are nine companies who are supplying bunkers at Chittagong port. There is tough competition. Few fixtures for VLSFO grade were at $570/mt,” said another bunker trader

Chittagong port 0.5% marine fuel was trading at $584/mt and gasoil was trading at $872/mt Aug. 18, according to Platts Bunkerworld.

Bunkerworld ,
18th August 2021 10:38 GMT