World News
BUNKER PRICES: G20-VLSFO Index Extends Downward Slide
Bunker prices continued to slump at ports around the world on Tuesday, with global average VLSFO prices reaching a new multi-year low.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $6/mt to $524/mt on Tuesday, reaching its lowest level since August 2021.
The G20-HSFO Index was little changed at $461.50/mt, while the G20-MGO Index dropped by $4/mt to $707.50/mt.
ICE Brent crude futures fell by $1.39/bl to $62.82/bl on Tuesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $3/mt to $490.50/mt, at Rotterdam they fell by $13.50/mt to $450.50/mt, at Fujairah they declined by $2.50/mt to $482/mt, and at Houston they sank by $12/mt to $470.50/mt.
On Wednesday morning Brent futures were trading down by $1.59/bl from the previous session's close at $61.23/bl as of 7:18 AM in London. In metric tonne terms that would be equivalent to an $11.97/mt fall on the day in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 486.00 | 0.00 | 595.50 | 0.50 |
| Rotterdam | 442.00 | 0.50 | 599.50 | 1.50 |
| Houston | 463.00 | 7.00 | 611.00 | 4.50 |
| Fujairah | 483.00 | 2.50 | 714.00 | 3.50 |
| Global 20 Ports Average | 521.00 | 3.00 | 700.00 | 2.00 |
| Global 4 Ports Average | 468.50 | 2.50 | 630.00 | 1.50 |
| Global Average Bunker Price | 564.00 | 3.00 | 747.50 | 5.50 |
Popular Now More
-
Apr 09A note from the US delegation argues against the promotion of 'hypothetical, expensive and unproven fuels'. -
Apr 10New plan targets shipbuilding revival, fleet expansion and pushback on Chinese dominance -
Apr 10The company has made ULSFO available in Istanbul and Izmit Bay as of April 10, Mustafa Muhtaroğlu tells Ship & Bunker.