Bunker operations outside port limits resumed on the west coast of India last week following the end of monsoon season.
OPL bunker operations in the region were scheduled to resume as of September 1, a
representative of local producer Bharat Petroleum Corporation Limited said. From June 1 to August 31 these operations were only allowed subject to weather conditions and permission of the local authorities.
The main bunker ports in the area are Mumbai and Cochin, and suppliers at both are expecting increased demand in the coming weeks.
“As the maritime industry anticipates the reinvigoration of bunker supply services, the prevailing price indications have caught the attention of stakeholders,” the company representative said.
“Presently, prices are hovering around 630 USD per metric ton (MTD) at Mumbai and Cochin.
“This pricing framework reflects the intricate balance between supply, demand, and market dynamics, influencing vessel operators’ decisions.
“The anticipated lifting of bunker supply restrictions on the west coast of India is poised to rekindle maritime operations on this vital trade route.”
Bharat Petroleum has about 90% market share for marine fuel sales at Mumbai, and produces a total of 30 million mt/year of fuels from refineries at Mumbai and Cochin.