Global bunker prices have risen significantly at the start of 2023. Image Credit: Ship & Bunker
Bunker fuel prices advanced at most ports on Friday, with average VLSFO prices ending the week at the highest level in almost two months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $13/mt to $687.50/mt on Friday, the highest level since November 23. The G20-HSFO Index advanced by $4/mt to $466.50/mt, while the G20-MGO Index jumped by $18/mt to $1,051/mt.
ICE Brent crude futures gained $1.47bl to $87.63/bl on Friday.
VLSFO prices at the top ports had a similar positive trend. At Singapore prices advanced by $18/mt to $685/mt, at Rotterdam they rose by $16.50/mt to $596.50/mt, at Fujairah they jumped by $25/mt to $670/mt and at Houston they slipped by $1.50/mt to $633.50/mt.
On Monday morning Brent futures were trading down by $0.12/bl at $87.51/bl as of 8:44 AM in London. In metric tonne terms that would amount to a $0.90/mt decline in bunker prices.