Veritas Pertoleum Services (VPS) has issued 15 bunker alerts since the sulphur cap was introduced on 1 January this year, surprisingly of those alerts six were for high sulphur fuel oil compared to four alerts for VLSFO.
Three of the VLSFO alerts were for sediment issues while the fourth was for sodium issues. While two of the HFO issues were for density and another two were flash point issues the other two issues were sediment and potassium issues. Distillate fuels also had four alerts for flashpoint issues and a fifth alert was for low viscosity.
Bunker alerts are generated when there are quality issues with a particular fuel type at a particular port.
Meanwhile, crude oil prices continued to slide with the UK’s BBC reporting West Texas Intermediate losing more than 18% of its value today, settling at US$21.96/bbl, while Brent Crude lost 9% to close on US$25.94/bbl.
All fuel types in all regions saw a decline in value today, except MGO in South America which gained US$2.25/tonne, costing US$625/tonne. Oil market analysts have said that the slide on oil prices is not over yet with a looming recession and the Saudi Arabians ramping up production the price levels have further to go.