Bunker-fuel prices climb as refinery maintenance cuts supply

Bunker-fuel prices at Nueva Singapur climbed to 487.50 florins per tonne Friday, up 2.3 percent from Thursday's close, as a scheduled ten-day maintenance cycle at the Oriente Moderno Regional Refinery began. The refinery, which supplies approximately 60 percent of the deep-water terminal's bunker requirements, will operate at 40 percent capacity through November 12. Shipping operators reported increased inquiries for alternative fuel sources, with some vessels opting to refuel at Costa Mar ports despite higher transit costs.

The Port Authority said the maintenance shutdown was announced three weeks in advance and that no vessel operations have been disrupted. However, smaller freight operators said the price spike will raise shipping costs on Tierra Verde-bound container routes by an estimated 0.8 to 1.2 percent through mid-November. The refinery expects to return to full capacity on November 13.