Daily Bunker Price Report, Wednesday Mar 20, 2013

Today's LS380 price in Rotterdam was the lowest seen in the port in 2013.

Global bunker prices were generally lower today, keeping the overall movements in March for key ports fairly flat. However Ship & Bunker data showed distillate prices in some key ports slip to their lowest level since last summer.

The biggest movement in Asia today for key grade IFO380 was made in the world's biggest bunkering port by volume, falling $5.50 in Singapore to $627.50 per metric tonne (pmt) to reverse the small gains made on Friday and Monday for a week-on-week change, and spread, of $-6.00.

Low sulfur 380 cSt product (LS380) in Singapore moved up $8.50 to $717.50, widening the low sulfur premium to $90.00 pmt, but the grade is still priced lower than at any point since January 30, 2013. MGO slipped $10.00 to a significant $909.50 pmt - the lowest price since July 31, 2012.

Most IFO prices in Europe were down $3.00 to $5.00 pmt today, but Rotterdam IFO380 made a smaller movement, down $1.50 to $603.00 pmt. In the last two weeks the port has seen the grade fall just $3.00 with a spread of $5.50 in that time.

LS380 in Rotterdam dropped $3.50 to $618.50 making the premium for the Emissions Control Area (ECA) compliant fuel $15.50 pmt, but more significantly it was the lowest price for the product seen at the port in 2013, $0.50 lower than the previous low on January 1, 2013. MGO moved down $2.50 to $892.00 pmt, the lowest price since July 26, 2012.

Fujairah IFO380 dropped $5.50 to $631.00 pmt, a fall, and spread, of $29.50 over the last month. MGO dropped $3.50 to $1013.00 pmt to reverse yesterday gain of the same magnitude, putting the week-on-week change at $-7.00.

After a week of relative inactivity, prices in South America were down across the board today. Elsewhere in the Americas price movements were mostly downward, but a little mixed on the West Coast and in the U.S. Gulf and Caribbean.

Houston IFO380 rose $1.00 to $616.50 pmt for a change of $1.50 in the last week. LS380 was steady at $699.00 making the premium for the low sulfur product $82.50 pmt, while MGO made a notable fall of $8.50 to $993.00 pmt, making it the lowest price since December 18, 2012.