World News
BUNKER PRICES: G20-VLSFO Index Drops to Three-Week Low
Bunker fuel prices sank at most ports on Tuesday, with global average VLSFO prices dropping to the lowest level in almost three weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $8.50/mt to $649/mt on Tuesday, reaching the lowest level since August 3. The G20-HSFO Index slipped by $3.50/mt to $585/mt, while the G20-MGO Index declined by $8.50/mt to $950/mt.
ICE Brent crude futures lost $0.43/bl to $84.03/bl on Tuesday.
VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $11.50/mt to $635.50/mt, at Rotterdam they lost $6.50/mt to $602/mt, at Fujairah they declined by $9.50/mt to $630.50/mt, and at Houston they dropped by $5/mt to $629/mt.
On Wednesday morning Brent crude futures were trading down by $0.50/bl at $83.53/bl as of 9:32 AM in London. In metric tonne terms that would be equivalent to a $3.77/mt fall in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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