World News
Average Bunker Price Jumps Back Above $1,000/MT
The global average VLSFO price has moved above $1,000/mt again for only the second time in its history since the new bunker grade emerged three years ago.
The global average VLSFO price gained $25/mt to $1,000.50/mt on Friday, according to Ship & Bunker's G20 Index of prices at 20 leading bunkering ports. That compares with an average so far this year of $839/mt, and one in 2021 of $544/mt.
The G20 VLSFO price has only once before jumped above $1,000/mt since Ship & Bunker started to compile it in October 2019, rising to $1,040.50/mt on March 9 before dropping again the next day.
The current strength in global bunker prices is being led by a surge in Singapore, where supplies have tightened and demand may be set to improve following the reopening of Shanghai.
Overall strength in crude oil is also being driven by renewed efforts in the European Union to ban imports of Russian oil following the invasion of Ukraine.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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