World News
BUNKER PRICES: G20-VLSFO Index Drops to Four-Month Low
Bunker fuel prices sank at most ports on Tuesday, with global average VLSFO prices dropping to the lowest level in more than four months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $4.50/mt to $644/mt on Tuesday, reaching the lowest level since August 1. The G20-HSFO Index fell by $1/mt to $516/mt, while the G20-MGO Index dropped by $13/mt to $859.50/mt.
ICE Brent crude futures sank by $0.83/bl to $77.20/bl on Tuesday.
VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $12/mt to $631.50/mt, at Rotterdam they lost $2/mt to $562.50/mt, at Fujairah they slipped by $7.50/mt to $623/mt, and at Houston they sank by $5/mt to $568.50/mt.
On Wednesday morning Brent crude futures were trading down by $0.03/bl at $77.17/bl as of 8:58 AM in London. In metric tonne terms that would be equivalent to a $0.23/mt fall in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| 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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