World News
BUNKER PRICES: G20-VLSFO Index Drops to Five-Week Low
Bunker fuel prices sank at most ports on Tuesday, with global average VLSFO prices falling to the lowest level in five weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports dropped by $4/mt to $626/mt on Tuesday, reaching the lowest level since June 18.
The G20-HSFO Index declined by $2/mt to $533/mt, while the G20-MGO Index sank by $2/mt to $816/mt.
ICE Brent crude futures slipped by $1.39/bl to $81.01/bl on Tuesday.
VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices lost $3.50/mt to $612.50/mt, at Rotterdam they fell by $1.50/mt to $566/mt, at Fujairah they advanced by $0.50/mt to $614.50/mt, and at Houston they dropped by $9/mt to $585/mt.
On Wednesday morning Brent futures were trading up by $0.28/bl from the previous session's close at $81.29/bl as of 8:41 AM in London. In metric tonne terms that would be equivalent to a $2.11/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 627.50 | 3.00 | 643.50 | 2.00 |
| Rotterdam | 530.50 | 3.00 | 636.50 | 3.50 |
| Houston | 526.00 | 0.00 | 665.00 | 0.50 |
| Fujairah | 608.50 | 8.00 | 778.50 | 2.00 |
| Global 20 Ports Average | 612.50 | 3.50 | 746.50 | 1.00 |
| Global 4 Ports Average | 573.00 | 5.00 | 681.00 | 3.00 |
| Global Average Bunker Price | 657.00 | 4.00 | 827.50 | 2.50 |
Popular Now More
-
Sep 04The firm is primarily focused on bunker trading, with a side-line in products cargoes, managing partner Rakesh Sharma tells Ship & Bunker. -
Sep 05Sentek was listed as Singapore's 15th-largest bunker supplier by volume in 2023, down from 10th place the previous year. -
Sep 05Both new and existing employees now need to give from six months to one year of notice before leaving to take up new jobs elsewhere.