World News
BUNKER PRICES: G20-VLSFO Index Nears Four-Year Low
Bunker fuel prices dropped at ports around the world on Wednesday, with global average VLSFO prices sinking to the lowest level in almost four years.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $6/mt to $559/mt on Wednesday, reaching its lowest level since June 2021.
The G20-HSFO Index dropped by $3.50/mt to $493/mt, while the G20-MGO Index sank by $3/mt to $757.50/mt.
ICE Brent crude futures dropped by $1.74/bl to $69.30/bl on Wednesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices fell by $3/mt to $513/mt, at Rotterdam they lost $0.50/mt to $506.50/mt, at Fujairah they declined by $5.50/mt to $514/mt, and at Houston they sank by $4.50/mt to $526/mt.
On Thursday morning Brent futures were trading up by $0.44/bl from the previous session's close at $69.74/bl as of 6:52 AM in London. In metric tonne terms that would be equivalent to a $3.31/mt rise on the day in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 513.00 | 3.00 | 649.50 | 1.00 |
| Rotterdam | 506.50 | 0.50 | 646.50 | 0.50 |
| Houston | 526.00 | 4.50 | 681.50 | 7.00 |
| Fujairah | 514.00 | 5.50 | 739.00 | 1.00 |
| Global 20 Ports Average | 559.00 | 6.00 | 757.50 | 3.00 |
| Global 4 Ports Average | 515.00 | 3.50 | 679.00 | 1.50 |
| Global Average Bunker Price | 605.00 | 6.00 | 797.50 | 5.50 |
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