World News
BUNKER PRICES: G20-VLSFO Index Drops to Three-Week Low
Bunker prices mostly declined at ports around the world on Wednesday, with global average VLSFO prices dropping to their lowest level in three weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports slipped by $1/mt to $552/mt on Wednesday, reaching its lowest level since June 12.
The G20-HSFO Index sank by $4/mt to $465/mt, while the G20-MGO Index jumped by $5.50/mt to $760.50/mt.
ICE Brent crude futures advanced by $2.00/bl to $69.11/bl on Wednesday.
VLSFO prices at the top four ports followed a positive trend. At Singapore prices rose by $1.50/mt to $526/mt, at Rotterdam they climbed by $9/mt to $503/mt, at Fujairah they advanced by $1.50/mt to $518.50/mt, and at Houston they jumped by $6.50/mt to $495.50/mt.
On Thursday morning Brent crude futures were trading down by $0.53/bl from the previous session's close at $68.58/bl as of 7:18 AM in London. In metric tonne terms that would be equivalent to a $3.99/mt fall in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 519.50 | 0.50 | 696.00 | 15.50 |
| Rotterdam | 507.50 | 1.00 | 727.50 | 18.50 |
| Houston | 501.50 | 5.50 | 722.50 | 17.00 |
| Fujairah | 514.00 | 4.00 | 747.50 | 10.00 |
| Global 20 Ports Average | 550.50 | 0.00 | 776.50 | 8.00 |
| Global 4 Ports Average | 510.50 | 2.50 | 723.50 | 15.50 |
| Global Average Bunker Price | 588.00 | 2.00 | 816.00 | 6.00 |
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