BUNKER PRICES: G20-VLSFO Index Drops to 15-Month Low

by Ship & Bunker News Team
Tuesday March 21, 2023

Bunker fuel prices resumed their downward slide at most ports on Monday, with global average VLSFO prices dropping to the lowest level in 15 months.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $10/mt to $593/mt on Monday, reaching the lowest level since December 6, 2021. The G20-HSFO Index fell by $9/mt to $456/mt, while the G20-MGO Index declined by $5.50/mt to $875/mt.

ICE Brent crude futures gained $0.82/bl to $73.79/bl on Monday.

VLSFO prices at the top ports mostly followed a negative trend. At Singapore prices dropped by $19.50/mt to $543.50/mt, at Rotterdam they fell by $11.50/mt to $525/mt, at Fujairah they sank by $21/mt to $549/mt and at Houston they dropped by $9.50/mt to $566/mt.

On Tuesday morning Brent futures were trading up by $0.79/bl at $74.58/bl as of 9:44 AM in London. In metric tonner terms that would amount to a $5.95/mt rise in bunker prices.