World News
Week Ends with a Rally for Bunker Prices
Many ports saw bunker prices move up on Friday after a week that saw some big losses, and key indicator ports Singapore, Rotterdam, Fujairah, and Houston all saw IFO380 move up for the first time since last Friday.
Singapore IFO380 moved up $9.50 to $656.00 per metric tonne (pmt) making a week-on-week loss of $35.50, and MGO moved up $9.00 to $968.50 pmt.
Hong Kong saw IFO380 fall for a fifth consecutive market day losing $5.00 to $669.00 pmt and $36.00 lower than last week's price, while MGO dropped $7.00 to $978.50 pmt.
Rotterdam IFO380 was up $5.00 to $632.00 for a week-on-week loss of $36.50, 1.00% maximum sulfur 380 cSt product (LS380) moved up $11.50 to $686.00 pmt, and MGO moved down $1.00 to $956.50 pmt.
Fujairah 380 cSt product gained $4.50 to $654.50 closing the week $45.50 lower than last week's price, while MGO was steady at $1034.50 pmt.
Houston IFO380 climbed $6.50 to $644.00 pmt putting it $32.00 lower than last Friday's price, LS380 was up $12.50 to $750.50, and MGO gained $9.50 to $1032.00 pmt.
LA / Long Beach IFO380 and LS380 moved up for a third consecutive day rising $12.00 to $677.50 pmt and $13.50 to $840.00 pmt respectively. IFO380 at the port made a week-on-week gain of $15.00 pmt.
The WTI spot price moved up for the first time since September 14, 2012 gaining $0.74 to close at $92.61 per barrel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 493.50 | 0.00 | 609.00 | 3.00 |
| Rotterdam | 432.00 | 18.00 | 582.50 | 17.00 |
| Houston | 450.00 | 8.00 | 607.00 | 11.00 |
| Fujairah | 476.50 | 6.50 | 699.00 | 4.00 |
| Global 20 Ports Average | 516.00 | 5.00 | 700.00 | 5.50 |
| Global 4 Ports Average | 463.00 | 8.00 | 624.50 | 7.00 |
| Global Average Bunker Price | 562.00 | 2.00 | 738.00 | 3.50 |
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