Most ports saw an increase in bunker fuel prices on Tuesday, and average global VLSFO prices rose for the first time in eight sessions, as reported by Ship & Bunker.
Pricing increases
The G20-VLSFO Index of pricing for 20 top bunkering ports increased by $5.50/mt on Tuesday to reach $617/mt, marking the first increase since April 13. While the G20-MGO Index decreased by $0.50/mt to $834.50/mt, the G20-HSFO Index increased by $2.50/mt to $510.50/mt.
ICE On Tuesday, Brent crude futures dropped $1.96/bl to $80.77/bl.
Prices for VLSFO at the busiest ports showed a mixed trend. Prices increased in Singapore by $11/mt to $605.50/mt, Rotterdam by $4.50/mt to $562.50/mt, Fujairah by $5/mt to $596.50/mt, and Houston by $5.50/mt to $570.50/mt.
As of 9:53 AM in London on Wednesday, Brent oil futures were trading $0.45/bl higher at $81.22/bl. That would translate to a spike in bunker prices of $3.39 per metric tonne (mt).
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Source: Ship & Bunker
