Daily Bunker Price Report, Friday Mar 22, 2013

MGO in Fujairah continued to lack direction today

Global bunker prices continued to trend down at the week's end, with Ship & Bunker data showing once again the world's major bunkering ports were among those with slightly lower prices.

Movements in Asia were smaller than yesterday, with both IFO and distillates falling around $2.00 to $3.00 per metric tonne (pmt).

Singapore IFO380 was down $1.00 to $625.50, the lowest price seen this month by $0.50, but its still a little way off the lowest price of the year so far, $608.50 on January 1, 2013. Low sulfur 380 cSt product (LS380) was steady at $719.50 to widen its premium to $94.00 pmt, and MGO was down for the twelfth consecutive market day, falling $0.50 to $904.50 pmt, and down $39.00 in that time.

While a few ports in Europe and the wider EMEA region saw some gains today, the overall trend was one of lower prices.

Rotterdam IFO380 fell $2.00 to $600.00 pmt, making it the lowest price since $594.50 on January 3, 2013. LS380 fell $1.00 to $619.00 making the 380 cSt low sulfur premium $19.00 pmt, and MGO continued to fall, down $4.50 to $884.00 pmt keeping the price at its lowest since last July.

Fujairah IFO380 was $1.00 lower today at $627.50 pmt, while MGO at the port continued to lack direction, today gaining $2.50 to $1015.50 pmt putting the week-on-week change at $+3.00.

A mostly unchanged South America Atlantic region made it the only part of the Americas without slightly mixed movements, but the overall sentiment was still downward.

Houston IFO380 dropped $2.50 to $613.50 pmt, keeping prices near their current low of the year, $612.50 on March 5, 2013. LS380 moved up $0.50 to $693.50 making the premium for the low sulfur product $80.00 pmt, and MGO was up steady at $989.50 pmt.