World News
Low Sulfur Bunker Premium Slides Under 20%
Tuesday November 10, 2020
The premium for 0.50% sulfur bunkers in major bunkering ports has fallen under 20%, Ship & Bunker data shows.
Looking at the average price of VLSFO and IFO380 as part of Ship & Bunker's Global 20 Ports Average Index, the premium for the IMO2020 compliant product in October was a little under 19%, or $52/mt in dollar terms.
The premium has been declining throughout the year, having started 2020 with a huge spread of over $300/mt - a premium of over 80%.
Prior to the decidedly unexpected COVID-related economic developments of this year, market commentators had been expecting the premium for 0.50%S bunkers to be around $200/mt.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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