World News
BUNKER PRICES: G20-VLSFO Index Reaches $700/mt For First Time in Two Months
Bunker fuel prices advanced for a fifth consecutive session at most ports on Thursday, with average global VLSFO prices hitting $700/mt for the first time in two months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $0.50/mt to $700/mt on Thursday, remaining at the highest level since November 17. The G20-HSFO Index lost $1.50/mt to $470/mt, while the G20-MGO Index dropped by $8/mt to $1,055/mt.
ICE Brent crude futures gained $1.35bl to $87.47/bl on Thursday.
VLSFO prices at the top ports mostly had a negative trend. At Singapore prices declined by $0.50/mt to $701/mt, at Rotterdam they advanced by $6.50/mt to $613/mt, at Fujairah they fell by $4.50/mt to $677.50/mt and at Houston they rose by $6/mt to $635.50/mt.
On Friday morning Brent futures were trading up by $0.78/bl at $88.25/bl as of 10:25 AM in London. In metric tonne terms that would amount to a $5.87/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 6.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 618.00 | 11.50 | 802.50 | 6.50 |
| Fujairah | 642.00 | 5.50 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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