World News
Red Sea Bunkering Reports Healthy Bunker Demand as Shipping Activity Gains 9% in April
Bunker demand and shipping activity around Djibouti are remaining healthy, with shipping activity on the rise despite attacks on ships around Yemen prompting some to avoid the area since late last year, local supplier Red Sea Bunkering has told Ship & Bunker.
As Ship & Bunker reported at the start of this year, the company has seen an improvement in sales to commercial and military ships since the Houthi attacks on commercial shipping started late last year. Those increased sales are still holding steady, a company representative told Ship & Bunker on Monday.
"Our geographical position presents significant challenges, but Djibouti's ports remain bustling hubs for commercial vessels carrying conventional goods," the representative said.
"While container ships are not as frequent as it was before the several attacks in the region, it's fair to say that a steady stream of commercial vessels finds its way to Djibouti's shore.
"In terms of military presence, Djibouti is East Africa's only safe-haven.
"As a result, foreign naval forces from all over the world take refuge here to refuel and re-supply."
Shipping activity around Djibouti is also increasing. This may have been down to a reduction in the frequency of Houthi attacks last month, according to the company.
"Overall, shipping activity rose by 4% in the first quarter compared with last year," the representative said.
"Furthermore, in April 2024, maritime traffic increased by 9% compared with March 2024.
"This shows that the reduction of Houthi attacks has had a considerable influence on the increase in maritime traffic in Djibouti."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 623.50 | 1.00 | 726.50 | 0.50 |
| Rotterdam | 566.00 | 3.50 | 737.00 | 2.50 |
| Houston | 585.00 | 8.00 | 750.00 | 12.50 |
| Fujairah | 628.00 | 1.00 | 881.00 | 2.00 |
| Global 20 Ports Average | 636.00 | 3.50 | 815.50 | 4.50 |
| Global 4 Ports Average | 600.50 | 3.50 | 773.50 | 4.50 |
| Global Average Bunker Price | 690.00 | 1.50 | 876.50 | 5.00 |
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