World News
Russian Exchange SPIMEX to Publish Bunker Export Prices
Russia's St Petersburg International Mercantile Exchange (SPIMEX) is set to start publishing export prices from the country's ports for bunker fuels, the company said Wednesday.
The exchange has launched prices for bunkers at St Petersburg, Novorossiysk, Murmansk, Vladivostok, Nakhodka and Vostochny, it said in a statement on its website.
The prices will cover two grades of bunker fuel -- residual and low-viscosity -- and will be calculated in rubles per tonne.
As well as export bunker prices, the exchange will also cover domestic prices, including VAT, the exchange said.
The prices will be based on spot trades on the exchange, with prices from at least two sellers and three buyers used for each trade.
Pricing at Russian ports has faced accusations of a lack of robust competition in the past, with buyers suspecting some sellers cooperate to exercise some collective control on prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.50 | 9.00 | 685.00 | 6.50 |
| Rotterdam | 506.00 | 6.00 | 665.00 | 11.00 |
| Houston | 552.50 | 0.50 | 682.00 | 4.00 |
| Fujairah | 548.00 | 7.50 | 750.00 | 3.00 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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