Fuel traders feel the heat as ships give HK a pass

Top News | Bloomerg 21 Aug 2020

Ships are skipping Hong Kong for refueling after the city implemented strict quarantine regulations at its port to curb the spread of the virus, leaving bunker fuel traders reeling from slumping sales.

For some suppliers, sales have halved this month compared to July, according to people familiar with the matter.

Vessels are calling at other ports to refuel, including nearby Shenzhen and in South Korea, said Simon Neo, executive director of marine fuels consultant SDE International.

Hong Kong implemented rules requiring crews on vessels that are only calling to refuel to undergo a 14-day quarantine in a bid to curb the transmission of the virus at the start of this month amid a fresh outbreak in the city. The number of vessels entering Hong Kong waters each day in the first two weeks of the month was around 12, compared to an average of 27 a day last month.

Hong Kong is one of the top five Asian ports in terms of annual marine fuel sales volumes.

BLOOMBERG

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