BUNKER PRICES: G20-VLSFO Drops Below $600/MT For First Time in 15 Months
Global bunker prices have dropped sharply over the past month. Image Credit: Ship & Bunker
Bunker fuel prices continued to decline at most ports on Thursday, with global average VLSFO prices dropping below $600/mt for the first time in 15 months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $15/mt to $598/mt on Thursday, dropping to the lowest level since December 21, 2021. The G20-HSFO Index fell by $10.50/mt to $452.50/mt, while the G20-MGO Index declined by $16.50/mt to $870.50/mt.
ICE Brent crude futures gained $1.01/bl to $74.70/bl on Thursday.
VLSFO prices at the top ports mostly followed a negative trend. At Singapore prices fell by $16.50/mt to $560.50/mt, at Rotterdam they slipped by $9.50/mt to $535/mt, at Fujairah they declined by $24/mt to $553.50/mt and at Houston they dropped by $5/mt to $579/mt.
On Friday morning Brent futures were trading up by $0.38/bl at $75.08/bl as of 9:16 AM in London. In metric tonner terms that would amount to a $2.86/mt rise in bunker prices.