World News
Rotterdam Distillate Sales Surge in December
The Port of Rotterdam, Wednesday announced it had seen a last minute surge in bunkering of marrine gasoil (MGO) and marine diesel (MDO) in December.
Combined sales of MGO and MDO reached 125,000 tonnes in December alone, whereas 45,000 to 50,000 would have been the norm.
Distillate sales for 2014 as a whole hit 700,000 tonnes, up from 500,000 tonnes the previous year.
"Sales of marine gasoil and diesel have risen due to more stringent sulfur requirements in [Emissions Control Areas] ECAs," said Port of Rotterdam.
The Port of Rotterdam said although the use of scrubber technology and LNG bunkers were alternatives to using distillate for compliance with 2015 Emissions Control Area (ECA) rules, "the market is making little use of these options (as yet)."
Overall bunker sales volumes at the port reached 10.6 million tonnes in 2014 compared to 10.4 million tonnes in 2013, meaning the entire sales growth in 2014 was attributable to MDO and MGO sales.
Sales of fuel oil stabilised at 9.8 million tonnes for 2014, halting a yearly decline in recent years.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 644.50 | 1.00 | 782.00 | 10.50 |
| Rotterdam | 590.00 | 10.50 | 750.50 | 9.00 |
| Houston | 608.50 | 11.00 | 777.00 | 10.50 |
| Fujairah | 643.00 | 0.50 | 891.50 | 3.50 |
| Global 20 Ports Average | 658.50 | 3.50 | 848.50 | 2.50 |
| Global 4 Ports Average | 621.50 | 5.50 | 800.50 | 3.00 |
| Global Average Bunker Price | 713.00 | 1.50 | 890.00 | 0.50 |
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