Oil prices have fallen into the high US$20/bbl range, around US$220/tonne, and in some regions the spread has increased, mainly because the price of 380 HFO has fallen faster than VLSFO. A very unexpected turn of events.
The main talking point, however, is the collapse in demand in some regions for manufactured goods and the consequent fall in demand for containerised shipping services.
Surprisingly, that may not mean that there will be further price deterioration in the bunker price, with some...