World News
Fujairah VLSFO Prices Drop Below Singapore for First Time Since October
Monday January 27, 2020
The price of very low sulfur fuel oil (VLSFO) at the Middle Eastern hub of Fujairah has dipped below the level in Singapore for the first time since October, according to Ship & Bunker's price assessments.
Fujairah VLSFO dropped by $7/mt on Friday to $626/mt, $1.50/mt below Singapore's level.
The last time Ship & Bunker assessed Fujairah VLSFO below Singapore was 3 October.
Fujairah's premium over Singapore has been pronounced over the past month, peaking at $70.50/mt on 27 December.
Heightened tensions between Iran and the US may be prompting shipowners to avoid the port, displacing bunker demand elsewhere.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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