Limited availability of high sulphur fuel oil in Northwest Europe has kept the barge market in the region backwardated, while weak buying interest for bunkers has shown up a disconnect between the two markets, reports Seanews.
Availability of fuel oil in Northwest European has been scarce on a plethora of factors including an active arbitrage to Asia, refinery maintenance and refinery upgrades, and this has been reflected by the backwardated spreads.
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Source: Seanews
