Sri Lanka bunker market in full throttle on ports'progress,India monsoons

摘要

Sri Lanka's bunker market is likely to ride a wave of growth as it develops its Hambantota port,among with other initiatives,all while welcoming additional short-term demand due to India's impending monsoon season,industry sources said.A Colombo-based bunker trader said demand for bunker fuels is"considerably good,"with volumes rising from 1,100 mt/day in May to 1,500-2,000 mt/day in June.Demand at the main bunkering hub of Colombo has increased from around 20,000 mt in March to 26,000-27,000 mt in April to 36,000 mt in May,a Colombo-based supplier said,with June volumes expected steady from May.Oil price volatility,however,is a concern,the trader said.India's bunker fuel prices are typically lower than Sri Lanka,as the latter buys most of its bunker fuel from Singapore and Fujairah,making the fuel costlier.