World News
VLSFO Claim Numbers 'Not Significantly Higher' Than in HSFO Era: Skuld
The number of fuel quality claims seen for VLSFO over the past year have not been significantly higher than in the pre-IMO 2020 era for HSFO, according to insurance association Skuld.
The company published a note on its website on Thursday detailing its experience of the IMO 2020 transition.
"The number of claims reported to Skuld are not significantly higher for VLSFO compared to other fuel," the company said.
"If we look at the bad bunker cases in 2019 (FDD and CLH) the number of claims are higher than before the introduction of the IMO 2020 fuel.
"In 2019 Skuld saw 435 bunker related claims on FDD and CLH combined, compared to 369 in 2020.
"Skuld also experiences a decrease in bunker related issues and claims in Q1 of 2021 compared to Q1 in 2020. In total, Skuld can report 30 cases so far in 2021."
Problems related to filter clogging and purification issues have declined since the second quarter of 2020 as shipping companies gained more experience of working with the new fuels, Skuld said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| 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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