Bunkering operations at the Mumbai and Jawaharlal Nehru ports in western India will resume only on August 16 although shipping traffic was restarted in a limited way Thursday under the escort of naval ships, a market source said Friday. "Port is partially opened but bunker supply can (be) undertaken only from 16th (August)," an India-based source said, referring to both ports. Only one bunker supplier was heard to be offering marine fuel at Mumbai and Jawaharlal Nehru Port Trust this week, for delivery after August 16. This sole supplier, who declined to be named, had offered Thursday a clip of marine fuel for delivery after August 16 at $477/mt. Delivered 380 CST bunker fuel prices have been holding up better in India than the key bunkering ports of Singapore and Fujairah. Platts assessed the delivered 380 CST bunker grade in Mumbai and JNPT at $469-470/mt Thursday, down just $3/mt from Wednesday. By comparison, delivered 380 CST bunker fuel in Singapore, the world's biggest bunkering port in terms of sales, slumped $11.50/mt to close at $447.50-448.50/mt Thursday, while delivered 380 CST bunker fuel in Fujairah also slid $11.50/mt to close at $449-450/mt. The bunker differentials to Singapore 380 CST cargo prices -- which closed $9.43/mt lower at $447.41/mt -- were also better supported in India than Singapore. The Mumbai bunker premium surged to $26.19/mt Thursday, up from $17.59/mt on Wednesday and the highest it has been since closing at $26.72/mt on July 1, when Platts first began assessing delivered bunker fuel in Mumbai. In Singapore, the bunker premium closed at 59 cents/mt Thursday, a steep drop from $2.66/mt Wednesday. Shipping traffic restarted in a limited way Thursday at India's Mumbai and JNPT ports under the escort of naval ships after it was suspended Saturday following the collision of Panamanian vessel MSC Chitra and the MV Khalijia-III off the Mumbai coast. India's environment minister Jairam Ramesh told the country's parliament Tuesday that normal traffic would be restored at the Mumbai ports on August 15. The Mumbai port, one of India's premier ports, handles about 20% of India's tanker traffic and 21% of general ship traffic annually. JNPT handles most of the country's container traffic.
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