World News
Verifuel Sees VLSFO Off-Specification Rate Rise in Q1
The share of VLSFO samples found to be off-specification rallied in the first quarter of 2022, according to Bureau Veritas bunker monitoring unit Verifuel.
About 1.7% of the VLSFO samples analysed by Verifuel in the first quarter of 2022 were found to be off-specification, a company representative told Ship & Bunker on Friday. The figure was up from 1.7% in the previous quarter, but down from 2.2% in the first quarter of 2021.
The rise was most notable in March 2022, with 2.1% of samples found to be off-specification, up from 1.3% the previous month and the most since July 2021.
The increase in quality problems may be related to the surge in bunker prices last month in the wake of Russia's war in Ukraine, with higher bunker prices typically being linked to more experimental fuel blending practices.
The global average viscosity of all VLSFO samples the company analysed was 142 cSt, down slightly from the 143 cSt seen the previous quarter, while average rose marginally to 945.2 kg/m3 from 945 kg/m3 the previous quarter.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| 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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