World News
Star Bulk Sees Bunker Demand Recovering in Q4
Bunker demand may start to recover in the fourth quarter of this year, according to dry bulk shipping company Star Bulk.
Bunker demand may drop by 5-7% overall this year, but the market should see a pick-up as the fourth quarter of this year progresses further, Constantinos Capetanakis, bunker director at Star Bulk, told Ship & Bunker Wednesday.
"The global increase of Covid-19 cases globally makes us all extra skeptical, though, and this permanent caveat permeates all of our projections," Capetanakis said.
"Being a fully scrubber-fitted fleet, we focus on HSFO and note its price resilience and relatively good availability, at least in the major bunkering hubs and ports.
"On the other hand, VLSFO's abundant supply affects the narrowing of the spread with HSFO."
Capetanakis will be speaking at the IBIA Annual Convention 2020 in November.
The global convention, being held online this year for the first time, will cover three days from November 3.
To register for the convention, click here: https://www.eventora.com/en/Events/ibia-annual-convention-2020-going-global.
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 |
Popular Now More
-
Nov 27The company is looking for candidates with shipping industry experience and strong negotiation skills. -
Nov 27Nick Papanikolopoulos has joined the company as head of credit and compliance in Piraeus. -
Nov 26The company has hired Mike Parrent, formerly marketing manager for Bomin before its acquisition by Minerva Bunkering earlier this year, as its new physical desk manager in Houston.