World News
Indian Media Report VLSFO Non-Availability Delays
A lack of very low sulfur fuel oil (VLSFO) on India's east coast is causing delays to coastal shipping there, according to local media.
Coastal shipping in the east of the country is expected to "come to a halt" this week because of the lack of compliant fuel, the Hindu Business Line reported Sunday.
The newspaper quoted a shipping executive as saying there is "virtually no supply" of VLSFO locally and that ships will come to a standstill once buyers have run down their fuel stocks.
International shipping is less affected as these ships are choosing to bunker in Singapore, Colombo or the Middle East instead, the newspaper said.
In a meeting on 9 January with shipowners to discuss the problem, the government advised them to purchase marine diesel oil until more VLSFO becomes available, but bunker purchases have baulked at the higher cost, the newspaper reported.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Colombo |
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|||
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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