World News
Week Opens with Bunker Prices Continuing to Fall
The week opened the same way it ended last Friday with bunker prices falling in many ports, and key ports Singapore and Rotterdam both saw some double-digit losses.
Singapore IFO380 fell for a second consecutive market day, the price down $10.50 to $594.00, while MGO dropped $7.00 to bring the price to $859.50 per metric tonne (pmt).
Hong Kong saw IFO380 drop $5.50 to $616.50, and MDO gained $9.00 bringing the price to $877.00.
In Rotterdam IFO380 and MGO both fell for a second consecutive market day, dropping $11.00 to $575.50 pmt and $18.50 to $866.00 pmt respectively.
Fujairah 380 cSt product dropped $8.50 to $600.00, while MGO fell $4.00 to $989.50 pmt.
Houston saw both IFO380 and MGO fall for the second consecutive market day, dropping $8.50 to $577.50 and $1.50 to $900.50 respectively.
LA / Long Beach IFO380 was steady at $597.00, while MDO gained $0.50 to $1049.50.
Crude opened the week with the WTI spot price gaining $1.45 to close at $85.99 per barrel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 491.00 | 2.50 | 592.50 | 16.50 |
| Rotterdam | 445.00 | 13.00 | 593.50 | 11.00 |
| Houston | 443.50 | 6.50 | 601.50 | 5.50 |
| Fujairah | 487.00 | 10.50 | 711.00 | 12.00 |
| Global 20 Ports Average | 517.50 | 1.50 | 697.00 | 3.00 |
| Global 4 Ports Average | 466.50 | 3.50 | 624.50 | 0.00 |
| Global Average Bunker Price | 559.50 | 2.50 | 736.00 | 2.00 |
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