World News
Global Q2 VLSFO Off-Spec Rate Drops to Lowest Since 2021: Verifuel
The share of VLSFO samples found to be off-specification dropped to the lowest level since the end of 2021 in the second quarter of this year, according to Bureau Veritas bunker monitoring unit Verifuel.
About 1.3% of the VLSFO samples analysed by Verifuel in the second quarter of 2023 were found to be off-specification, the company told Ship & Bunker on Friday. The figure was down from 2.2% in the previous quarter and from 2.0% in the second quarter of 2022.
Within Q2 the off-spec rate was at its lowest in April, at 1.1%, with the level in May and June reaching 1.3% and 1.7%, respectively.
Quality problems may have declined somewhat with a falling bunker price delivering less incentive for blenders to compromise on quality to deliver lower prices.
The global average viscosity of all VLSFO samples the company analysed was 154 cSt in the second quarter, up from 153 cSt the previous quarter. Average density rose marginally to 944.2 kg/m3 from 942.2 kg/m3 the previous quarter.
Of the HSFO samples the company handled, the Q2 off-spec rate was 2.2%, up from 1.7% the previous quarter. The Q2 off-spec rate for MGO was 2.7%, down from 3.2% the previous quarter.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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