Saudi Arabia's cargo volume jumps 16.1% in June as bunker prices gain

Saudi Arabia handled 27.1 million mt of cargo throughput at its ports in June, up 16.1% from a year ago, with liquid bulk cargo volume rising 31.8% to 15.5 million mt, the official state-run Saudi Press Agency reported July 12.

The increased shipping activity at Saudi ports in June may have helped support bunker prices, with 0.5%S marine fuel delivered from Ras Tanura climbing 1.9% for the month to $1,069.83/mt as of June 30 while 0.5%S marine fuel delivered from Fujairah fell 3.3% to $1,020/mt, according to Platts assessments by S&P Global Commodity Insights.

"Fujairah port was seen in congestion in the month of June. On the eastern Saudi port Ras Tanura/Dammam, VLSFO availability was tight, leading to premium prices to Fujairah," a Saudi trader said.

Saudi general cargo volume in June surged 55.7% on the year to 790,500 mt, while dry bulk cargo declined 6.9% to 3.9 million mt, the Saudi agency said.

Container throughput gained 5.5% to 642,300 twenty-foot equivalent units, while transshipment volume was 4.2% higher at 244,600 TEUs.

Saudi ports received 1,126 vessels in June, up 13.6% from a year ago, and 74,000 vehicles, up 25.8% year on year.

Passenger traffic climbed 79.3% year on year to 79,000 in June, while 990,000 heads of cattle were unloaded, soaring 265.5% year on year.