EMEA News
Rotterdam IFO380 Edges Over $200/mt for First Time in Almost 6 Months
The average price of IFO380 marine fuel in the major bunkering hub of Rotterdam Monday edged over the $200 per metric tonne (pmt) mark for the first time in almost 6 months, Ship & Bunker price data shows.
The key grade was last seen starting with a "2" on November 12, 2015.
The move follows a relentless rise for crude futures during April, which over the month pushed Rotterdam's average price of 380 cSt product to $200.50 pmt on Monday, up 28 percent from $156.6 pmt on April 1.
Along with fellow bunkering majors Singapore, Fujairah, and Houston - which together with Rotterdam account for about 25 percent of global volumes - the Global 4 Ports Average price for IFO380 Monday rose to $211.50 pmt, with Houston Monday the only one of the four still indicating under the $200 mark, at $198 pmt.
Singapore 380 on Monday was $222 pmt, and Fujairah $225 pmt.
