Global VLSFO prices have had a strong start to 2023. Image Credit: Ship & Bunker
Bunker fuel prices advanced for a fourth consecutive session at most ports on Wednesday, with the Singapore VLSFO price reaching the highest level in 11 weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $1.50/mt to $699.50/mt on Wednesday, remaining at the highest level since November 17. The G20-HSFO Index lost $0.50/mt to $471.50/mt, while the G20-MGO Index dropped by $6/mt to $1,063/mt.
ICE Brent crude futures lost $0.01bl to $86.12/bl on Wednesday.
VLSFO prices at the top ports mostly had a negative trend. At Singapore prices advanced by $2/mt to $701.50/mt, the highest level since November 8, at Rotterdam they slipped by $2.50/mt to $606.50/mt, at Fujairah they fell by $3/mt to $682/mt and at Houston they dropped by $4/mt to $629.50/mt.
On Thursday morning Brent futures were trading down by $0.10/bl at $86.02/bl as of 8.58 AM in London. In metric tonne terms that would amount to a $0.75/mt decline in bunker prices.