Total number of bunkering and ship-to-ship calls to Indian ports increases by 64% the first seven months of 2024
![](/img/en_news_image.jpg)
Bunkering activity in India has experienced significant growth during the first seven months of 2024, with the total number of bunkering and ship-to-ship (STS) calls to Indian ports increasing by 64% year on year. According to S&P Global Commodities at Sea data, the total number of bunkering and STS calls to Indian ports surpassed 6,765 compared with just 4,113 during the same period in 2023. This time, the monsoon has had little effect in Mumbai, said market participants. Mumbai, which is one of the major bunkering hubs in the country, saw a 53% rise in total bunkering and STS calls, CAS data showed.
Attacks on shipping in the Red Sea have prompted shipowners to take longer voyages around Africa. This disruption caused a substantial increase in monsoon bunker demand at Indian ports, which is typically lower due to weather disruptions. The growth was further fueled by favorable pricing and consistent supply from domestic refineries since the second quarter of 2024.
Platts, part of Commodity Insights, assessed 0.5% marine fuel oil delivered to Mumbai at $641/mt CFR on Aug. 8, down $4/mt week on week, while in Kochi prices were at $647/mt, up $4/mt. During the Southwest monsoon period from June to September, certain port authorities impose restrictions on barge movement due to unfavorable weather conditions impacting anchorage supplies.
Total Bunkering and STS calls fell to 26% month-over-month to 357 in July 2024 for Gujrat-based ports, CAS data showed. Gujarat ports include Kandla, Sikka, Vadinar Terminal, Port Okha, Bedi Bunder, Navlakhi, and Mundra in the Gulf of Kutch, along with Dahej, Hazira, Jafrabad, Magdalla, and Pipavav in the Gulf of Khambhat. Haldia market demand remained stable, with consistent supply maintaining market stability.
An increase in bunker demand at Colombo led to a decline in Kochi. Increased demand led to supply tightness in Sri Lanka, mainly impacting Colombo and Hambantota, while Trincomalee remained unaffected. Platts assessed 0.5% marine fuel oil delivered to Kochi at $647/mt CFR on Aug. 7, a $23/mt discount to Marine Fuel 0.5% Bunker Delivered Colombo.