Bunker Prices at Their Highest in Over 3 Years, Up 175% in 2 Years

Wednesday January 17, 2018

Rising crude prices have propelled bunker prices to their highest in over three years, data from Ship & Bunker shows.

Ship & Bunker's Global 20 Ports Average, which tracks average bunker prices across 20 ports responsible for the vast majority of global bunker sales, indicates IFO380 is priced at just under $400/mt, having eased back $0.50/mt Tuesday to $398.00/mt.

It is the highest average price since December 9, 2014, and represents an increase of 175% over the index's most recent low of $144.50/mt set on January 20, 2016.

MGO prices show a similar picture, with the Global 20 Ports Average price for the popular distillate grade indicating an average of $645.00/mt on both Monday and Tuesday, the highest since June 19, 2015.