World News
Chinese Bunker Sales Down in July
Chinese bunker fuel sales fell 10 to 20 percent in July compared with the same month last year, hitting 800,000 metric tonnes (mt) for the month, Platts reports.
Suppliers attributed the drop to slow steaming and competition from lower-priced suppliers in Russia's Far East.
"Shipping companies used to take 1,000-1,200 mt of bunker fuel at one loading, but these days the volume is only 500-700 mt," one Chinese supplier said.
This spring, sources reported that volumes sold at the Russian Far East ports had doubled year-over-year to 250,000 mt in April, pulling sales away from Chinese and other Asian ports.
A trader said the Russian ports continue to move 250,000 to 300,000 mt per month.
According to Ship and Bunker data, the price of IFO 180 stood at $551 per mt in the Russian ports of Vladivostok, Nakhodka, and Vostochniy Thursday, compared with $612.50 in Singapore and $663.50 in Shanghai.
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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