Multiple fuel terminals in Europe’s oil-trading hub have been forced to halt operations because of ‘IT issues’, according to a broker.
“Numerous terminals in ARA have been impacted by IT issues,” Riverlake, which organizes barge shipments, said in a note. ARA stands for Amsterdam, Rotterdam and Antwerp—the nerve center of Europe’s oil and fuel-trading network. “The waiting queue is still building up since Sunday, with currently no prospects when the operations can resume”
The German cyberattack affected a company that had about 18 million tons of fuel throughput through its storage sites in 2020. Riverlake said that the incident in Germany is causing limited operations and rerouting of supplies.