World News
BUNKER PRICES: G20-VLSFO Index Falls as Crude Slumps
Bunker fuel prices declined at most ports on Tuesday, with global average VLSFO prices resuming their downward path as crude futures slumped.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $0.50/mt to $638.50/mt on Tuesday, having gained $4/mt the previous day.
The G20-HSFO Index slipped by $2.50/mt to $545/mt, while the G20-MGO Index advanced by $4/mt to $832/mt.
ICE Brent crude futures dropped by $1.12/bl to $83.73/bl on Tuesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $4.50/mt to $622.50/mt, at Rotterdam they fell by $5.50/mt to $574.50/mt, at Fujairah they declined by $5/mt to $624.50/mt, and at Houston they slipped by $9.50/mt to $601/mt.
On Wednesday morning Brent futures were trading down by $0.20/bl from the previous session's close at $83.53/bl as of 7:16 AM in London. In metric tonne terms that would be equivalent to a $1.51/mt fall in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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