World News
BUNKER PRICES: G20-VLSFO Index Drops to Six-Week Low
Bunker fuel prices declined at most ports on Monday, with global average VLSFO prices dropping to the lowest level in six weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports dropped by $3/mt to $621.50/mt on Monday, reaching the lowest level since June 17.
The G20-HSFO Index declined by $3/mt to $522/mt, while the G20-MGO Index sank by $6/mt to $811.50/mt.
ICE Brent crude futures dropped by $1.35/bl to $79.78/bl on Monday.
VLSFO prices at the top four ports mostly followed a positive trend. At Singapore prices gained $8.50/mt to $619.50/mt, at Rotterdam they rose by $6/mt to $563.50/mt, at Fujairah they advanced by $2.50/mt to $611/mt, and at Houston they slipped by $2/mt to $574/mt.
On Tuesday morning Brent futures were trading down by $0.15/bl from the previous session's close at $79.63/bl as of 10:19 AM in London. In metric tonne terms that would be equivalent to a $1.13/mt fall in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 579.00 | 3.50 | 622.00 | 5.50 |
| Rotterdam | 503.50 | 0.50 | 612.50 | 3.00 |
| Houston | 498.00 | 0.00 | 638.50 | 5.00 |
| Fujairah | 577.00 | 2.00 | 776.00 | 3.00 |
| Global 20 Ports Average | 589.50 | 2.00 | 730.50 | 1.00 |
| Global 4 Ports Average | 539.50 | 1.00 | 662.00 | 1.50 |
| Global Average Bunker Price | 635.00 | 1.50 | 808.00 | 0.00 |
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