Piraeus bunker fuel price hits multi-month low

TIN news:  Bunker fuel at Piraeus hit an almost six-month low Tuesday, as falling crude oil prices weighed against tightness in barges and increased seasonal buying appetite from cruise vessels.

The price of 380 CST fuel oil was assessed at $287/mt delivered Tuesday, its lowest point since November 11, S&P Global Platts data showed.

ICE Brent futures closed at 1630 GMT Tuesday at $48.87/b, the lowest level since November 29.

Demand and supply were both heard to be strong at the port Tuesday, although some concerns were expressed about the weather in the coming days, amid an already tight barge schedule.

The port is seeing a seasonal uptick in demand from cruise vessels and this can lend itself to a tight barge schedule through the cruise season of May-October, sources said.