World News
Cruise Ship Runs Aground in Philippines Searching for Bunkers
A disused cruise ship Saturday ran aground off Barangay Bula in the Philippines, local media reports.
The ship's Captain is said to have gone in search of bunkers at General Santos City after running low on fuel.
There were no reports of a bunker spill as a result of the incident, and the Philippine Coast Guard (PCG) has said that risk of an spill is low since the ship has run out of bunkers and has only 12,000 litres of diesel on board.
Salvage plans are already underway as PCG Commander Armand Balilo said the ship could pose a threat to nearby residents if it is not dealt with.
Other reports said the ship is only 150 metres from shore.
The Panama-flagged vessel was not carrying any passengers at the time as it was on its way from Mexico to Singapore, bound eventually for dismantling in India.
It is understood that the all-Indian crew was unfamiliar with the waters and hit a shallow patch after diverting course in search of fuel in the Philippines.
Legislators investigating last year's large bunker spill in Iloilo province, the Philippines, recently said that government agencies had failed to implement oil spill compensation laws amounting to "criminal negligence."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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