Daily Bunker Price Report, Tuesday Apr 16, 2013

by Ship & Bunker News Team
Tuesday April 16, 2013

Global bunker prices continued to make large downward movements today, with Ship & Bunker price data showing key ports continued to hit new lows for the year, as brent fell below $100 a barrel for the first time since July 2012.

Singapore IFO380 fell for the forth consecutive market day, down $10.50 to hit another new low for the year of $601.50 per metric tonne (pmt). The product has now fallen $22.50 in the last week. Low sulfur 380 cSt product (LS380) was down $24.50 to its new low for the year of $645.50, and MGO was down $12.00 to a nine month low of $865.50 pmt.

Rotterdam IFO380 was down $9.50 to $575.00 pmt, the lowest price in over nine months, while its low sulfur counterpart LS380 moved down $8.50 to $585.00, the lowest price since June 2012. MGO dropped $16.50 to $833.00 pmt - its lowest price since June 2012 as well.

Fujairah IFO380 was down $5.50 to $608.50 pmt, just $4.00 higher than the low of the year set at the start of January 2013. MGO slipped $0.50 to $1008.00 pmt correcting yesterday's movement of $0.50 in the opposite direction.

The falling bunker prices in Asia were said to be keeping demand low on North America's West coast, and prices made double-digit drops across the entire Americas region.

Houston IFO380 moved down $10.00 to a nine month low of $586.50 pmt, and LS380 moved down $9.50 to $651.00, its lowest price in at least nine months. MGO slipped $13.00 to $956.50 pmt, the lowest price of the year, as well as the lowest since August last year.

Ship & Bunker News Team
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