World News
Bunker Prices to Remain "Around $650 pmt" For the Next Year
Thursday April 18, 2013
Oslo-based investment bank Pareto Securities AS. has said that, based on a crude-oil price of $120 a barrel, bunker prices will stay around $650 per metric tonne (pmt) for the next year, Bloomberg reports.
The comments were made by Nicolai Hansteen, chief economist at Pareto Securities subsidiary Pareto Shipping, who was speaking at the 3rd Scandinavian Shipping & Ship Finance Conference 2013 in Copenhagen on Wednesday.
"We see global oil demand at 90 million barrels a day," Hansteen said. "Chinese oil demand is about 10 million barrels a day."
Global bunker prices have fallen sharply in April, and benchmark grade IFO380 in Singapore, the world's largest bunkering port by volume, has fallen $40.00 pmt in the last two weeks.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 7.00 | 617.00 | 6.00 |
| Rotterdam | 455.00 | 8.00 | 619.50 | 4.00 |
| Houston | 467.00 | 4.50 | 625.00 | 2.50 |
| Fujairah | 495.00 | 6.00 | 712.50 | 1.50 |
| Global 20 Ports Average | 524.50 | 4.50 | 710.50 | 4.00 |
| Global 4 Ports Average | 479.50 | 6.50 | 643.50 | 3.50 |
| Global Average Bunker Price | 570.50 | 2.00 | 747.50 | 5.50 |
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