Bloomberg: Europe may be left without marine fuel

Due to the war in Ukraine, European countries risk being left without marine fuel, Bloomberg warns, citing Svend Stenberg Melholt, CEO of Danish marine fuel supplier Monjasa Group.

In the European Union, as warns bloomberg, it rises in price and threatens to end soon. One of the reasons is the change in trade flows due to the war in Ukraine. Svend Melholt says that there is a shortage of marine diesel fuel in the oil trading centers of Amsterdam, Rotterdam, Antwerp.

The market is negatively affected by the fact that now ships are increasingly going to the Dutch-Belgian hub, although they previously refueled in the Baltic. Some European refineries have carried out seasonal maintenance, further reducing supplies. In Antwerp, the price of marine fuel rose faster than futures for Brent oil. Conventional diesel after February 24 also rose significantly in price.

However, according to the executive director of KPI OceanConnect, Søren Höll, now the ships are not in danger of being left without fuel. However, shippers can be in a difficult position, especially when buying “last minute”, writes “News”.

It remains to add that 82% of the world’s inhabitants are convinced that the war in Ukraine threatens the whole world. Western states that disagree with Russia’s invasion of the territory of the neighboring country have imposed new sanctions against the Russian Federation: in particular, the restrictions affected energy resources. Due to restrictive measures, inflation in Europe and the United States has increased significantly, and prices have risen.

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