World News
Major Ports See Bunker Prices at their Lowest in Over 2 Years
The price for key grade IFO380 bunkers at a number of the world's primary bunkering ports today were at their lowest in over two years, data from Ship & Bunker shows.
On Friday, IFO380 in Rotterdam was at its lowest in over two years and priced at $561.50 per metric tonne (pmt), its lowest since the grade hit $560.00 pmt July 2, 2012.
Gibraltar IFO380 prices on Thursday fell below $590.00 pmt for the first time since summer 2012, and on Friday were down for a fourth consecutive day to $586.00 pmt, their lowest since the $577.50 pmt recorded over two years ago on June 29, 2012.
Another European port with prices at their lowest in over two years was Istanbul, with IFO380 on Friday priced at $597.50 pmt, the same as it was on June 27, 2012 and the lowest since $596.00 pmt on June 22, 2012.
In the U.S., Houston IFO380 fell to $574.50 pmt, equaling the price on July 1, 2013, which is the lowest since $573.50 on June 20, 2012.
On Friday IFO380 prices in Hong Kong edged up $0.50 pmt to $592.50 pmt, having been at $590.00 pmt for the previous two days and their lowest since $586.50 pmt on June 29, 2012.
IFO380 bunkers in the world's biggest bunker market by volume, Singapore, were $592.50 pmt, having hit a two year low of $582.50 on April 3, 2014.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Istanbul | 685.00 | 7.50 | 881.50 | 3.00 |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Gibraltar | 647.00 | 6.50 | - | |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
Popular Now More
-
Apr 24Non-compete clauses have not always been used in a fair and reasonable way in the bunker industry, Maritime Recruitment Company Ltd's Vernon Jayanathan tells Ship & Bunker. -
Apr 23The ship had come to Singapore from St Petersburg. -
Apr 24The arrests were both on Monday.