World News
Market Jitters Could Impact HSFO Cargo Flows: Analyst
A "potential crunch" in high sulfur fuel oil inflows could follow as uncertainty surrounding loadings of crude and oil products from Russian ports takes hold, an analyst has said.
Refinitiv oil research analyst quoted by Reuters said that "the Russia-Ukraine crisis has cast uncertainty around Russian loadings from its Far East, Baltic Sea and Black Sea ports, with some shippers refusing to load cargoes from there, amid escalating tensions and sanctions".
The analyst note continued that this situation "could lead to a potential crunch in HSFO inflows".
Ship & Bunker reported on Monday that a major player had cancelled all high sulfur fuel oil cargoes coming out of the Black Sea.
For bunker players, uncertainty around trade flows has been compounded with the news that one Russian port company has been included in European Union sanctions against Russian entities.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| 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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