Daily Bunker Price Report, Monday Apr 15, 2013

Market sources reported demand on North America's West Coast continued to be very low today.

Global bunker prices started the week by continuing the downward movements of last Friday, with Ship & Bunker data showing double-digit price drops were made in a number of markets.

Singapore IFO380 fell $9.00 to $612.00 per metric tonne (pmt) as it took a big step closer to the current low for the year of $608.50 made on January 1, 2013. Low sulfur 380 cSt product (LS380) dropped $16.50 to $670.00, only $1.00 higher than the previous low on December 7, 2012. MGO dropped $14.50 to $877.50 pmt, only $2.00 higher than the current 9-month low hit on July 16, 2012 nine months ago.

Price movements in the EMEA region were mostly larger than those made in Asia today, with IFO380 making a double-digit drop in a number of ports including Piraeus, Gothenburg, and ports in Poland.

Rotterdam IFO380 dropped $6.50 to $584.50 pmt, a new low for the year, while LS380 moved down $8.00 to $593.50, the first time the product has been below $600.00 pmt at the port since June 2012. MGO was down $13.50 to $849.50 pmt.

Fujairah IFO380 fell $10.00 to a three month low of $614.00 pmt, and just $9.50 higher than the low for the year so far. MGO made one of the few upward movements of the day, gaining $0.50 to $1008.50 pmt.

Market sources reported demand on North America's West Coast continued to be very low today, but indicated IFO380 in Los Angeles and Long Beach was down $14.50 to $622.00 pmt, negating the big gains made last week and putting the product up $0.50 week-on-week with a spread of $25.50.

Houston IFO380 moved down $7.00 to $596.50 pmt, a new low for the year, and LS380 was down $10.50 to $660.50 which is the lowest price in at least 9 months. MGO dropped $17.00 to $969.50 pmt, the lowest price since August last year.