Daily Bunker Price Report, Friday Mar 1, 2013

Houston IFO380 hit its lowest price this year today

Bunker prices around the globe continued to slide on Friday, with Ship & Bunker data showing key grade IFO380 in some ports hit its lowest price of the year.

East, and South East Asia IFO fell around $3.00 per metric tonne (pmt) today, with distillates falling about $10.00 pmt.

Key port Singapore saw IFO380 down $3.00 to $630.50 pmt, a month-on-month change of $-14.50 and $22.00 higher than the lowest price of the year so far, which was $608.50 on January 1, 2013. Low sulfur 380 cSt product (LS380) was down $1.50 to $729.00 putting its premium over IFO380 at $98.50 pmt. MGO slipped $9.00 to $952.00 pmt for a month-on-month change of $-11.50.

IFO in Europe and the wider EMEA region was down around $5.00 pmt, with some small gains reported in Algeciras and Istanbul.

Rotterdam IFO380 dropped $4.50 to $609.50 pmt for a month-on-month change of $-24.00, while LS380 fell $6.50 to $636.00 making the premium for the low sulfur fuel $26.50 pmt. MGO fell $16.50 to $922.50 pmt.

Fujairah IFO380 dropped $4.00 to $638.00 pmt, the seventh consecutive day of downward movement and is now $33.50 higher than the lowest price of the year, $604.50 on January 1, 2013. MGO in the port dropped $6.50 to $1006.50 pmt.

Bunker prices were falling in the Americas but some gains were seen in Venezuela as well as some U.S. West Coast ports. Key grade IFO380 in Los Angeles / Long Beach ended its run of five consecutive market days of downward movements with a gain of $2.50 to $640.50 pmt today.

Houston IFO380 dropped $3.00 to $617.50 pmt, a new low for the year, $2.50 lower than the previous lowest on January 1, 2013 of $620.00 pmt. LS380 dropped $7.50 to $708.50 making the premium for the low sulfur fuel $91.00 pmt, while MGO dropped $3.00 to $1019.00 pmt for a month-on-month change of $-17.50.