World News
BUNKER PRICES: G20-VLSFO Index Nears Five-Year Low
Bunker prices mostly sank at ports around the world on Wednesday, with global average VLSFO prices dropping to their lowest level in almost five years.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports sank by $5.50/mt to $490/mt on Wednesday, reaching its lowest level since February 2021.
The G20-HSFO Index declined by $0.50/mt to $433.50/mt, while the G20-MGO Index lost $6/mt to $742/mt.
ICE Brent crude futures dropped by $0.48/bl to $61.91/bl on Wednesday.
VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices fell by $3.50/mt to $449.50/mt, at Rotterdam they advanced by $2/mt to $430/mt, at Fujairah they sank by $3.50/mt to $446.50/mt, and at Houston they dropped by $3.50/mt to $439.50/mt.
On Thursday morning Brent crude futures were trading up by $0.44/bl from the previous session's close at $62.35/bl as of 6:33 AM in London. In metric tonne terms that would be equivalent to a $3.31/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 449.50 | 3.50 | 660.50 | 5.50 |
| Rotterdam | 430.00 | 2.00 | 652.00 | 5.00 |
| Houston | 439.50 | 3.50 | 643.00 | 16.50 |
| Fujairah | 446.50 | 3.50 | 716.00 | 3.50 |
| Global 20 Ports Average | 490.00 | 5.50 | 742.00 | 6.00 |
| Global 4 Ports Average | 441.50 | 2.00 | 668.00 | 5.00 |
| Global Average Bunker Price | 533.00 | 6.00 | 783.00 | 3.00 |
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