India’s west coast bunker fuel market remained strong in November, supported by competitive pricing and improved refinery supplies. Key ports such as Mumbai, Kandla, and Kochi recorded healthy activity, even as east coast ports saw mixed demand despite adequate fuel availability. The regional contrast was further highlighted by Sri Lanka’s sharp decline in bunker volumes following cyclone disruptions.
Strong West Coast Performance Driven by Competitive Prices and Steady Inquiries
West coast ports continued to show resilience, with Kandla and Mumbai emerging as key contributors to November’s bunker demand.
Kandla, in particular, witnessed rising inquiries that exceeded available supplies. Market participants attributed this growth to competitive pricing following the monsoon season. One supplier reported handling 46,000 mt of VLSFO, noting that demand had strengthened significantly in recent weeks.
Price assessments further supported the trend:
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Marine fuel oil 0.5% delivered to Mumbai was assessed at $465/mt
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Singapore’s 0.5% cargoes closed at $416.88/mt
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Colombo’s delivered price stood higher at $495/mt
Across Gujarat ports, Indian Oil Corp. supplied 42,000 mt in November, although barge delays due to vessel congestion slightly affected prompt supply.
Kochi also maintained stable month-on-month volumes of 11,500 mt, even as occasional tightness emerged when some suppliers faced product shortages. A new development was the launch of trial bunkering at Vizhinjam International Seaport, with Adani Bunkering completing a 450 mt STS transfer, signalling future growth opportunities.
East Coast Sees Modest Activity as Sri Lanka Faces Weather Disruptions
While the west coast remained active, India’s east coast ports reported subdued demand.
Chennai, Tuticorin, and New Mangalore saw limited volume uptake despite reliable availability from IOCL. Some ports did, however, show strength:
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Haldia: 11,000 mt of VLSFO supplied
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Tuticorin: 4,500 mt
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Chennai: 6,000 mt
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Visakhapatnam: 18,000 mt supplied, with rising HSFO demand
Visakhapatnam stood out for increased HSFO interest, even though availability issues occasionally surfaced. Meanwhile, Paradip delivered around 6,000 mt, marking a positive month for the port.
In sharp contrast, Sri Lankan ports experienced significant declines due to Cyclone Ditwah.
A Bunkerworld survey highlighted a drop to 65,000 mt, a steep fall of 15,000 mt month-over-month. Suppliers struggled with barge limitations and operational delays, reporting declines of 15–20%.
November demonstrated a clear divide in South Asia’s bunker fuel landscape. India’s west coast benefited from stronger demand, competitive pricing, and positive supply fundamentals, while east coast ports saw mixed performance. Sri Lanka’s cyclone-driven disruptions further amplified the regional imbalance.
Looking ahead, the outlook for December appears optimistic. Improved weather conditions in Sri Lanka and sustained HSFO demand across key ports are expected to lift overall volumes. With robust inquiries already emerging in early December, the region’s bunker market is positioned for a stronger month ahead.
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