Spain bitumen

Spain bitumen 

Spanish bitumen fob cargo premiums to regional HSFO prices were assessed $5/t down at $15-20/t as regional demand continued to fall.

Repsol’s La Coruna refinery as well as the 1.2mn t/yr Repsol/Cepsa Asesa refinery in Tarragona were understood to be running at normal levels. Road works however were progressing well domestically, with Covid-19 lockdown restrictions imposed in dozens of municipalities helping to

Restrict road traffic and permit asphalt laying work considered an essential activity.

Domestic prices were assessed unchanged at €350-360/t ex-works.

The 6,180 dwt Iver Balance loaded a cargo from Tarragona for discharge into Mohammedia, Morocco, on 18 November, while the 7,066 dwt Herbania moved a cargo from Huelva to Ghazaouet, Algeria, arriving 20 November.

The 5,897 dwt Iver Action shipped a cargo from Tarragona to Valetta, Malta, arriving 16 November.

The 14,911 dwt The Amigo moved a cargo from Cadiz to Luanda, Angola, for 28 November arrival as Spanish exporters looked increasingly to west Africa for an outlet for their surplus volumes.