The closure of Baltimore Port due to a bridge collapse has triggered a surge in bunkering enquiries in New York and neighbouring East Coast ports, reports Engine.
Baltimore bridge collapse spurs bunkering surge
The collapse of the Francis Scott Key Bridge disrupted maritime traffic, prompting operators to seek alternative bunkering options. New York is a key hub for bunkering operations and the recent closure of Baltimore Port has led to an increase in demand there.
VLSFO prices in New York have seen a modest $12/mt increase in the past week, reflecting the initial impact of heightened demand. Trading sources anticipate further price escalations if supply challenges persist in Baltimore. Currently, the availability of all fuel grades remains normal in the East Coast port of New York. Other alternative locations, such as Norfolk and Marcus Hook in Philadelphia, are also being considered for bunker deliveries, a source says.
Authorities have established two temporary alternate channels near the collapsed bridge to accommodate essential vessels, albeit with a limited capacity and operating hours. This measure aims to facilitate the transit of small vessels during daylight hours.
Meanwhile, the port officials have not provided a definitive timeline for the resumption of the main channel for the transit of larger vessels.
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Source: Engine
