World News
BUNKER PRICES: G20-VLSFO Index Drops Further
Bunker prices continued to slump at ports around the world on Wednesday, 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 $9/mt to $515/mt on Wednesday, reaching its lowest level since August 2021.
The G20-HSFO Index sank by $10/mt to $451.50/mt, while the G20-MGO Index dropped by $11/mt to $696.50/mt.
ICE Brent crude futures jumped by $2.66/bl to $65.48/bl on Wednesday. But most bunker price indications were received earlier in the day, when Brent futures were trading as low as $58.46/bl.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $14.50/mt to $476/mt, at Rotterdam they fell by $9/mt to $441.50/mt, at Fujairah they declined by $9.50/mt to $472.50/mt, and at Houston they sank by $13/mt to $457.50/mt.
On Thursday morning Brent futures were trading down by $0.90/bl from the previous session's close at $64.58/bl as of 6:17 AM in London. In metric tonne terms that would be equivalent to a $6.78/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 |
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