World News
BUNKER PRICES: G20-VLSFO Index Drops to Seven-Week Low
Bunker fuel prices declined at ports around the world on Monday, with global average VLSFO prices slipping to the lowest level in almost seven weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $5/mt to $591/mt on Monday, reaching its lowest level since January 7.
The G20-HSFO Index fell by $4/mt to $513/mt, while the G20-MGO Index dropped by $6.50/mt to $785/mt.
ICE Brent crude futures rose by $0.35/bl to $74.78/bl on Monday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices fell by $11.50/mt to $558.50/mt, at Rotterdam they lost $5.50/mt to $535.50/mt, at Fujairah they declined by $9.50/mt to $559/mt, and at Houston they dropped by $7.50/mt to $558.50/mt.
On Tuesday morning Brent futures were trading up by $0.36/bl from the previous session's close at $75.14/bl as of 6:24 AM in London. In metric tonne terms that would be equivalent to a $2.71/mt rise on the day in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 558.50 | 11.50 | 685.50 | 9.00 |
| Rotterdam | 535.50 | 5.50 | 677.50 | 10.00 |
| Houston | 558.50 | 7.50 | 728.00 | 4.50 |
| Fujairah | 559.00 | 9.50 | 769.00 | 1.00 |
| Global 20 Ports Average | 591.00 | 5.00 | 785.00 | 6.50 |
| Global 4 Ports Average | 553.00 | 8.50 | 715.00 | 6.00 |
| Global Average Bunker Price | 623.00 | 18.00 | 824.00 | 7.00 |
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