Hamburg bunker fuel prices dropped to a seven-month low last week, losing its premium to the competing Port of Rotterdam, according to S&P Global Platts.
Platts spokesperson Emma Kettley said that this was due to low demand at the German port compared to a strengthened bunker fuel market at the Dutch port.
“Buyers are more selective and if vessels are going to various ports they would rather lift in ARA [Amsterdam-Rotterdam-Antwerp trading hub] than Hamburg where fuel oil is cheaper,” a bunker trader told Platts. “Fuel in Hamburg often has higher transportation costs incorporated compared to ARA, and with shipowners not in a good financial state, they are checking every dollar.”
