World News
BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low
Bunker fuel prices declined at most ports on Tuesday, with global average VLSFO prices slipping to the lowest level in almost two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $2.50/mt to $645/mt on Tuesday, reaching the lowest level since January 24. The G20-HSFO Index rose by $1.50/mt to $494.50/mt, while the G20-MGO Index rallied by $2.50/mt to $869/mt.
ICE Brent crude futures rose by $0.60/bl to $78.59/bl on Tuesday.
VLSFO prices at the top ports were mixed in direction. At Singapore prices fell by $8/mt to $624.50/mt, at Rotterdam they lost $3/mt to $562/mt, at Fujairah they were little changed at $612/mt, and at Houston they jumped by $8/mt to $633.50/mt.
On Wednesday morning Brent futures were trading up by $0.03/bl from the previous session's close at $78.62/bl as of 5;20 AM in London. In metric tonne terms that would be equivalent to a $0.23/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 611.00 | 1.50 | 730.00 | 7.00 |
| Rotterdam | 557.50 | 1.00 | 718.50 | 2.00 |
| Houston | 576.00 | 1.00 | 750.50 | 2.50 |
| Fujairah | 608.50 | 2.50 | 829.00 | 2.00 |
| Global 20 Ports Average | 624.50 | 2.50 | 817.50 | 3.00 |
| Global 4 Ports Average | 588.50 | 0.50 | 757.00 | 2.50 |
| Global Average Bunker Price | 678.50 | 3.50 | 883.50 | 2.00 |
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