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 | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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