World News
BUNKER PRICES: G20-VLSFO Index Drops to Lowest Since August 2021
Bunker prices continued to slump at ports around the world on Monday, with global average VLSFO prices reaching a new multi-year low.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $18.50/mt to $530/mt on Monday, reaching its lowest level since August 2021.
The G20-HSFO Index sank by $20.50/mt to $461.50/mt, while the G20-MGO Index dropped by $23.50/mt to $711.50/mt.
ICE Brent crude futures fell by $1.37/bl to $64.21/bl on Monday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $22/mt to $493.50/mt, at Rotterdam they fell by $6.50/mt to $464/mt, at Fujairah they declined by $25/mt to $484.50/mt, and at Houston they sank by $19.50/mt to $482.50/mt.
On Tuesday morning Brent futures were trading up by $0.55/bl from the previous session's close at $64.76/bl as of 7:04 AM in London. In metric tonne terms that would be equivalent to a $4.14/mt rise on the day in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 495.00 | 9.00 | 600.00 | 4.50 |
| Rotterdam | 447.50 | 5.50 | 607.50 | 8.00 |
| Houston | 468.50 | 5.50 | 627.00 | 16.00 |
| Fujairah | 490.50 | 7.50 | 718.00 | 4.00 |
| Global 20 Ports Average | 523.00 | 2.00 | 704.00 | 4.00 |
| Global 4 Ports Average | 475.50 | 7.00 | 638.00 | 8.00 |
| Global Average Bunker Price | 563.50 | 0.50 | 740.00 | 7.50 |
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