World News
Week Ends with Bunker Prices Making More Double-Digit Drops
The week ended with bunker prices in key ports across the globe seeing yet another day of losses.
IFO380 has made double-digit drops in Singapore, Rotterdam, Fujairah, and Houston, and all four ports once again reached new lows for the month.
In Asia, Singapore IF380 prices dropped by $11.00 bringing the price to $563.50, while Hong Kong IFO380 fell for the fourth day this week dropping $10.00 to $585.00 per metric tonne (pmt).
Rotterdam 380 cSt grade fuel lost $13.50 moving the price to $543.00 pmt.
Fujairah IFO380 saw a fifth consecutive day of losses, with prices moving down $11.00 to $571.50.
In Houston IFO380 prices were also down for a fifth consecutive day, $10.50 was lost moving the price to $548.50.
LA / Long Beach continued on a downward trend, IFO380 today chalking up an 11th consecutive day of losses by dropping $7.50 to $562.50 pmt.
Crude halted the heavy losses of the previous two days with WTI spot prices gaining $1.52 and closing at $79.36.
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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