1.  Savannah IFO 380 bunker fuel at greatest in over a year on limited supply
2.  S&P Global Platts assessed Savannah IFO 380 CST shelter fuel at $373.50/ mt ex-wharf Thursday, up $3.50/ mt on the day, amidst broach limited supplies as well as climbing crude oil rates.
3.  https://www.irochemical.com brings the product to its highest level given that June 30, 3015, when it settled at $380/mt ex-wharf, Platts historic data show.
4.  According to an aquatic operations expert with business in Savannah, IF0 380 supply is exceptionally limited there as well as it is uncertain when new product will arrive.
5.  An investor with service in Savannah agreed that products were really thin, yet discovered this unsurprising.
6.  " Savannah is a particular niche market with just small volumes of item offered at any type of offered time," he said. "For the previous couple years, Glencore has been the only physical vendor, so the pricing structure there depends extra on their neighborhood procedures than international fundamentals."
7.  Glencore is the sole physical shelter supplier in Savannah.
8.  " Glencore materials East Coastline ports from a range of places including the US, Canada, South America, and also the Caribbean, the trader stated. "This means that Savannah is competing with New York Harbor as well as other bigger ports for barrels. If Glencore has marketing commitments in those even more fluid areas, sending out less product to Savannah is one method to assist meet them."
9.  This describes why Savannah IF0 380 prices often tend to vary between a substantial premium to the very same product in New york city Harbor as well as pricing parity, the trader included.
10.  A Glencore spokesperson in the UK decreased discuss accessibilities in Savannah.
11.  Platts historic data reveal that New York and Savannah IFO 380 were last analyzed at the exact same degree on September 12, 2016, when they both shut at $263/mt ex-wharf.
12.  As of Thursday's analysis, Savannah IFO 380 sits at a $39.50/ mt costs to New york city Harbor, a slight reduction from Wednesday's $42.50/ mt.
13.  Sources additionally stated that IFO 380 costs throughout the map are getting support from climbing crude rates. Platts evaluated front-month ICE Brent at $56.05/ b Thursday, up from $54.90/ b at the beginning of the week. A port report for Savannah additionally shows among the docks is slated for upcoming repair that will certainly restrict line managing access, which could slow down vessel loading and also include more assistance to bunker gas costs there.
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