World News
Rotterdam - Singapore IFO380 Spread Narrows from $20 to $2
Thursday July 4, 2013
The premium for IFO380 bunkers in Singapore compared to Rotterdam has narrowed to within a few dollars for the first time this year, Ship & Bunker data has shown.
Until last week the benchmark grade was on average priced $20.00 per metric tonne (pmt) higher in Singapore, with the spread reaching as much as $30.00 pmt in early April.
Last week the differential started to narrow, closing to just $2.00 pmt yesterday.
A gain of $1.00 to $587.00 pmt in Rotterdam today, versus a gain of $1.50 to $589.50 pmt for the product in Singapore meant the spread today widened to $2.50.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
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