World News
BUNKER PRICES: G20-VLSFO Index Drops to 3 1/2-Year Low
Bunker prices declined at ports around the world on Monday, with global average VLSFO prices dropping to the lowest level in almost four years.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $4/mt to $513.50/mt on Monday, reaching its lowest level since August 2021.
The G20-HSFO Index sank by $6.50/mt to $440/mt, while the G20-MGO Index dropped by $2.50/mt to $694.50/mt.
ICE Brent crude futures sank by $1.06/bl to $60.23/bl on Monday.
VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices fell by $2/mt to $489/mt, at Rotterdam they dropped by $6/mt to $439/mt, at Fujairah they declined by $9/mt to $478/mt, and at Houston they sank by $6/mt to $437.50/mt.
On Tuesday morning Brent crude futures were trading up by $0.89/bl from the previous session's close at $61.12/bl as of 7:06 AM in London. In metric tonne terms that would be equivalent to a $6.70/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 523.50 | 6.50 | 613.00 | 6.00 |
| Rotterdam | 472.50 | 2.50 | 630.50 | 4.50 |
| Houston | 468.00 | 2.50 | 619.50 | 4.50 |
| Fujairah | 520.00 | 13.00 | 724.00 | 10.50 |
| Global 20 Ports Average | 539.00 | 1.00 | 720.00 | 3.00 |
| Global 4 Ports Average | 496.00 | 3.00 | 647.00 | 1.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 765.00 | 3.00 |
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