Daily Bunker Price Report, Tuesday April 23, 2013

Piraeus was one of a minority of ports making gains today.

Bunker prices were lower many markets today and a number of key ports saw their lowest prices of the year so far, but Ship & Bunker data also showed some gains were recorded, particularly in North America.

Bunker prices in Asia were down across the board, with East, and South East Asia seeing a drop of $2.50 to $6.00 for all products, while South Asia recorded a number of double-digit drops.

Singapore IFO380 was down $4.00 to $598.00 per metric tonne (pmt) for a week-on-week change of $-3.50. Low sulfur 380 cSt product (LS380) was down $4.50 to $642.00 making the premium for the Emissions Control Area (ECA) compliant fuel $44.00 pmt, while MGO hit a new low for the year by falling $9.50 to $840.50 pmt.

EMEA prices were a little more mixed, with a number of ports including Genoa and Piraeus making gains today.

IFO380, LS380, and MGO in Rotterdam all hit new lows for the year today. IFO380 fell $5.50 to $570.00 pmt - not only a new low for 2013 but the lowest price since July 2, 2012. LS380 was down $6.50 to $581.00, while MGO moved down $2.00 to $819.00 pmt.

Fujairah IFO380 was down $5.00 to a new low of the year of $602.50 pmt. MGO slipped $0.50 to $1002.50 pmt and while it was still higher than Friday's price, it is still only $8.50 higher than the three month low of $996.00 pmt. The product has gained $6.00 and has a spread of just $29.00 in that time.

Prices were mostly trending down in the Americas, but North America's Atlantic and Pacific coasts saw some rising prices, including a $14.00 gain to $637.00 for IFO380 in Los Angeles / Long Beach. It was the third consecutive market day of gains for the product which is now up $29.50 in that time.

Houston IFO380 was $1.00 lower at $578.00 pmt today, while LS380 gained $4.50 to $646.50 making the premium for the low sulfur grade $68.50 pmt. MGO was up for a third market day, gaining $5.00 to $942.50 pmt and up $33.00 since Thursday.