EMEA News
Mixed IFO Prices in Europe as MGO Prices Jump
Many ports in the EMEA region saw bunker prices make gains on Tuesday, however Rotterdam IFO380 saw little change and Polish ports saw IFO move down $2.00. MGO in Piraeus and Istanbul saw some big gains and moved up $31.00 and $21.00 respectively, as Ceuta MGO moved up $35.
Rotterdam IFO380 fell $0.50 to $595.00 per metric tonne (pmt) making a week-on-week gain of $6.00 and down $55.50 since August 20, 2012. Low sulfur 380 cSt product (LS380) was up $1.50 to $626.50 pmt and down $85.50 in the last three months making today's premium for the low sulfur grade $31.50 pmt. MGO climbed $9.50 to $934.50 pmt for a week-on-week gain of $15.50.
Piraeus IFO380 gained $10.00 to $617.00 pmt adding $2.50 to last Friday's price and losing $28.00 over the past month, LS380 climbed $17.00 to $678.00 pmt and falling $68.00 since August 20, 2012. MGO at the port jumped up $31.00 to $975.00 pmt for a week-on-week increase of $22.00 and down $42.00 in the past month.
Fujairah IFO380 was up for a second consecutive day rising $0.50 to $617.50 pmt adding $11.00 to last Tuesday's price and falling $20.00 in a month. MGO was also up $0.50 climbing to $1024.50 and gaining $4.00 over the previous two weeks.
Istanbul IFO380 rose $7.50 to $630.00 pmt making a $29.00 loss over the past month, and MGO made a double digit gain up $21.00 to an even $1000.00 pmt making a week-on-week increase of $7.50, having added $14.00 in the last two weeks.
