Brief by Shorts91 Newsdesk / 10:25am on 29 Mar 2024,Friday India
In response to vessel re-routings to avoid the Red Sea, bunker demand surged over 30% in ports across India and Sri Lanka, causing supply shortages in India's west coast ports like Kochi and Mumbai. Longer voyages to bypass the Red Sea led to increased activity in Sri Lankan ports. The spike in demand was mainly for VLSFO due to disrupted supplies. Despite this, price movements in the bunker fuel market have been mixed as of March 28, posing a challenge for the maritime industry.
