World News
Industry Feels Better Prepared for Bunker Price Rise: Survey
The industry feels better prepared for fuel price increases compared to a year ago, according to the second annual Global Maritime Issues Monitor.
The survey of senior maritime stakeholders across 46 countries globally was conducted by insurance broking and risk management firm Marsh, and looks to rank the impact, preparedness, and likelihood of 18 key issues facing the industry.
Of the issues at stake, preparedness for rising fuel prices was bettered only by preparedness for a major safety incident and increased piracy.
Perhaps surprisingly given the expected steep jump in bunker prices due to IMO2020, fuel price increases was not even considered a top 10 issue in terms of industry impact.
Global economic crisis (1st), decarbonization of shipping (2nd), and new environmental regulation (3rd) were considered the top three issues in terms of industry impact.
Read the full survey here:
https://www.globalmaritimeforum.org/content/2019/10/Global-Maritime-Issues-Monitor-2019.pdf
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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