Ecuador’s high sulfur bunker fuel hits four-week high on tight supply
Time：2014-07-28
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IFO 380 CST Guayaquil was assessed at $628/mt delivered, $4/mt higher from Thursday and the highest level since July 1, when it was at $629.50/mt delivered, Platts data showed.
The supply tightness was due to a programmed maintenance at the 45,000 b/d La Libertad refinery, market sources said.
Petroecuador’s second-largest refinery is operating at 45% of capacity because of a planned two-week turnaround at one of its three distillation plants that began Sunday and is expected to be completed July 31, company sources said.
One large physical supplier stopped offering product in the market Thursday due to the lack of product.
On Friday, a trader said he received an offer for IFO 380 CST Guayaquil at $629/mt delivered for 900 mt for July 28, but the trader did not confirm if a fixture was done at that level.
Market sources said that a long line of barges can be seen at the port of La Libertad waiting to load the product as soon as the refinery starts operating at normal rates.
La Libertad refinery is the major fuel oil supplier for the Ecuadorean domestic market.