World News
Integr8 Fuels Sees 7% Drop in Bunker Demand
Thursday April 2, 2020
The disruption to shipping in the wake of the COVID-19 pandemic has led to a drop of about 7% in bunker demand, according to researchers at Integr8 Fuels.
'Near-term' fuel oil demand is down around 7% from the same period of last year, the company said in a research note published Wednesday.
That compares with a drop of around 77% for jet fuel, the company said.
Referring to general oil demand, the company said that it may be another month before it starts to recover.
"Current expectations (which can obviously change) are that things will ease from May onwards, but that demand will still be well below 2019 levels for most of this year," the company said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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