April, 2020
Date Headline Image
VLSFO in major ports Friday had a 5% premium over Brent, vs a Q1 2020 average of 35%.
Bunker Prices Stall as Crude Jumps 50%
Meanwhile, Royal Dutch Shell prepares for a new energy industry landscape.
More Huge Gains For Crude Despite Potential Virus Treatments Meeting Bureaucratic Resistance
Singapore's Ministry of Health announced tougher measures aimed at controlling the spread of COVID-19 on Friday.
Port of Singapore Remains Open For Business: MPA
"Tthis unprecedented crisis requires unprecedented reactions," the organisation said in a statement on its website.
Industry Body Sees European Shipping at 'Breaking Point'
Crude prices have risen sharply since the end of March on renewed hopes of a reconciliation within OPEC+.
OPEC+ Group Plans Extraordinary Meeting Next Week After Crude Collapse
The company has cut spending by $20 million with the cancellation of four scrubber installations.
Wallenius Wilhelmsen Announces Plans to Mitigate Pandemic Disruption
Scorpio has paid about $2.5 million per vessel for its scrubbers.
Scorpio Tankers Warns Scrubber Benefits May Not Be Fully Realised
Meanwhile, "game changing" virus treatment yields promising results.
Oil Prices Achieve Historic One Day Recovery, While Surgeon General Says Washington, California, Italy Have "Flattened The Curve"
Average VLSFO price for Global Top 20 Ports was $351.50/mt in March 2020, vs the March 2019 average IFO380 price of $425/mt.
IMO 2020 Premium Evaporates, Price Paid for Bunkers in March 20% Lower than in 2019
Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue's demolition sales from March 26 – April 1, 2020.
Weekly Vessel Scrapping Report: 2020 Week 13