Introduction | Benchmark Bunker Prices | Key People
Ship & Bunker's Benchmark Bunker Prices: Our Methodology
For each port we cover, Ship & Bunker's Benchmark Bunker Prices combine daily indications from select local and global physical bunker suppliers, traders, and brokers to determine how spot bunker prices in each market have moved and to calculate the average spot price being indicated for each available product. Daily average prices are a linear average of all price indications data for a product in a given market. The high/low price indicated reflects the range of those indications. We do not currently make any assessment of where we believe spot market levels should
We believe our methodology and unique blend of data sources provides readers with the most realistic overview of the how the market is being indicated by market participants.
Price indications are updated Monday to Friday at the end of each global market day. Note that in some markets price levels do not change daily. FOr example, ports where sales volumes are low, or local rules mean there are official posted prices, may be updated weekly, bi-monthly, etc.
All indications are quoted in USD per metric tonne and based on typical quantities of 500 mt for fuel oil and 100 mt for distillates.
Understanding Bunker Price Indications
Even within a single market or port, there are many factors that determine the price that a buyer pays for bunkers. This includes:
The volume of bunkers being purchased - indications are for a "typical" stem of 500mt of fuel oil and 100 mt of distillate, but remember that in some ports larger volumes don't always attract a better price per tonne!
The delivery date - more notice can, but doesn't always mean a better price
The reputation and other credit considerations of the buyer - higher risk counterparties can generally expect to pay more
When the deal can be made - sometimes better deals can be had if, for example, a trader or broker needs to make up volumes to fill their quota.
Who is part of the sales chain - going direct doesn't guarantee the lowest price
For these, and other considerations, Ship & Bunker Prices can not be taken as a price guarantee.