World News
Tuesday Markets Remain Soft
Bunker prices across global ports remained soft today but the widespread double-digit drops seen yesterday, were mostly absent.
Asia's exception to that was Shanghai with yesterday's price of $633.00 dropping $26.50 to $606.50 for IFO380 and $20.00 slipping from MDO's $1051.00 to today's $1031.00.
Singapore arrested the steep decline it started late last week trimming just $4.50 to $585.00 per metric tonne (pmt) for IFO380 today, while distillates saw some gains, MDO rising $18.00 and MGO $4.00 bringing prices to $855.00 pmt and $847.50 pmt respectively.
Rotterdam saw small gains with IFO380 moving up $6.00 to $564.50 pmt and Gothenburg's 380 cSt product holding steady at $585.00.
Further South, Piraeus, one of yesterday's few relatively stable ports, was a big mover today continuing to trend downward with IFO380 losing $16.50 to $602.50 pmt.
In the U.S., Houston IFO380 began to firm, edging up $3.00 to $580.00 with distillates failing to follow suit, MDO and MGO falling $12.50 to $875.00 and $4.00 to $858.00 respectively.
Northwards, New York's IFO380 continued South, dropping $7.50 to $585.00 and Vancouver, Canada dropped a relatively moderate $4.50 to $633.00.
Crude futures continued their recovery with WTI adding to yesterday's gain with a rise of $0.31 to close at $84.29 per barrel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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