World News
Tuesday Bunker Prices Continue to Fall
Bunker prices were moving down small to moderate amounts on Tuesday, with IFO380 at key indicator ports Singapore, Rotterdam, and Houston dropping between $1.00 and $4.00 pmt, and a number of ports seeing their lowest prices since August.
Singapore IFO380 dropped for a second consecutive day falling $2.50 to $637.50 per metric tonne (pmt), and MGO was down $14.00 to $950.00 pmt.
Hong Kong saw IFO380 slipped for a fifth consecutive day down $2.00 to $651.00 pmt, while MGO dropped $6.00 to $978.00 pmt.
Rotterdam IFO380 moved down $4.00 to $613.50 pmt, the lowest price since August 3, 2012, low sulfur 380 cSt product (LS380) was down $1.50 to $641.00 pmt, and MGO fell $13.50 to $966.00.
Fujairah 380 cSt product was steady at $637.50 pmt, while MGO dropped $4.50 to $1027.50, the lowest price since August 22, 2012.
Houston IFO380 slipped $1.00 to $622.00, LS380 was down $2.00 to $723.00 pmt, the lowest price since August 2, 2012, and MGO fell $13.50 to $1029.50 pmt.
LA / Long Beach IFO380 gained $1.50 to $676.50 pmt, while LS380 moved up $751.00 making the premium for the low sulfur product $74.50 pmt.
Tuesday's WTI spot price dropped $2.41 (-2.72%) to close at $86.32 per barrel, and the lowest price since July 12, 2012.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 493.50 | 8.50 | 606.00 | 11.00 |
| Rotterdam | 450.00 | 5.00 | 599.50 | 20.00 |
| Houston | 458.00 | 9.00 | 618.00 | 7.00 |
| Fujairah | 483.00 | 12.00 | 703.00 | 9.50 |
| Global 20 Ports Average | 521.00 | 3.50 | 705.50 | 5.00 |
| Global 4 Ports Average | 471.00 | 8.50 | 631.50 | 12.00 |
| Global Average Bunker Price | 564.00 | 6.50 | 741.50 | 6.00 |
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