World News
IEA Reinforces Outlook for 8% Drop in Bunker Demand
The International Energy Agency (IEA) is forecasting an 8% drop in bunker demand for Q2 2020, echoing similar assessments by industry analysts.
Overall demand this year will fall 5% year-on-year, IEA predicts - down 5% in Q3 and 3% in Q4.
Analysis by Ship & Bunker in March also predicted an 8% drop in bunker demand as a result of measures taken to address the COVID-19 pandemic.
Researchers at Integr8 Fuels, meanwhile, in April saw "near-term" bunker demand falling 7%.
Respected marine fuels consultant and former IBIA chairman Robin Meech in March predicted a 7% drop in bunker demand for full year 2020.
While there is growing consensus on the magnitude of the decline globally, evidence is emerging that the primary bunkering ports are the least affected.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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