World News
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.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 593.00 | 1.00 | 715.50 | 0.50 |
| Rotterdam | 551.00 | 1.00 | 677.00 | 11.00 |
| Houston | 573.50 | 1.50 | 732.50 | 1.50 |
| Fujairah | 580.50 | 0.50 | 770.50 | 0.50 |
| Global 20 Ports Average | 611.00 | 2.00 | 780.50 | 7.00 |
| Global 4 Ports Average | 574.50 | 0.00 | 723.50 | 3.00 |
| Global Average Bunker Price | 651.00 | 2.50 | 831.50 | 4.50 |
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