BUNKER PRICES: G20-VLSFO Index Drops to Ten-Week Low
Bunker prices have almost erased this year's gains. Image Credit: Ship & Bunker
Bunker fuel prices declined at most ports on Tuesday, with global VLSFO prices slipping to the lowest level in almost ten weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $10.50/mt to $623/mt on Tuesday, dropping to the lowest level since January 6. The G20-HSFO Index fell by $4/mt to $470/mt, while the G20-MGO Index declined by $6/mt to $897.50/mt.
ICE Brent crude futures lost $3.32/bl to $77.45/bl on Tuesday.
VLSFO prices at the top ports mostly followed a negative trend. At Singapore prices fell by $8/mt to $588.50/mt, at Rotterdam they slipped by $10.50/mt to $557.50/mt, at Fujairah they declined by $17/mt to $578.50/mt and at Houston they dropped by $6/mt to $601/mt.
On Wednesday morning Brent futures were trading up by $0.60/bl at $78.05/bl as of 9:52 AM in London. In metric tonner terms that would amount to a $4.52/mt rise in bunker prices.