The bunker fuel prices have risen considerably in the Italian port of Genoa due to a motorway bridge collapse in the city.
What happened?
Bunker fuel availability at the primary Italian seaport, one of the busiest in the western Mediterranean, is likely to be disrupted as a result of the bridge collapse.
On August 15, around 380 CST bunker fuel was delivered at the port of Genoa and gained from $4/mt to $442/mt, while at Gibraltar the fuel lost $5/mt to $444/mt and the price at Malta fell to $437/mt, down $2/mt.
Bridge collapse
The Italian Prime Minister Giuseppe Conte had declared a 12-month state of emergency in the northwest Italian Liguria region following the disaster, which left 39 people dead, as dozens of vehicles fell from a height of 45 meters (148 ft), and led to the evacuation of more than 600 people living nearby on fears of further collapse.
Shipping operations affected
The shipping operations at the port of Genoa have been unaffected by the bridge collapse. The main problem is the difficulties with road traffic and the movement of goods and containers down to the port.
The busy route is described as one of the major arteries that cross the Polcevera River and connect the eastern and western parts of the city, carrying much of the freight passing through the port. Much of the bunker fuel id being moved to the port via trucks and transportation is likely to be severely disrupted by the bridge collapse due to the absence of other convenient routes.
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Source: S&P Global
