bunker prices

Fuel prices slide on coronavirus outbreak fears

Fears that the global economy will go into recession following the latest statistics that show a decline in Eurozone and US growth as well as a decline in Chinese output has seen the price of fuel also nosedive.

Market concerns over the spread of the coronavirus have led the North P&I Club to offer a digital tool that will allow shipowners and operators track the spread of the Coronavirus outbreak.

Called MyGlobeView platform the system displays an interactive map that allows users to “identify...

https://container-news.com/fuel-prices-slide-on-coronavirus-outbreak-fears/

Bunker costs stall amid market uncertainty (Daily bunker index – 3 Feb.)

A variety of market concerns have led to a slow down in the convergence of the price between VLSFO and HFO according to market commentators.

The extension of the Lunar New Year to 14 February along with, albeit reduced, trade tensions between the US and China and the concerns over the growing difficulties with the coronavirus outbreak in China are leading to a slowing of trade in general and the decline in bunker prices overall.

In all three major bunkering regions, North America, North Europe...

https://container-news.com/bunker-costs-stall-amid-market-uncertainty/

Daily bunker index – 31 Jan.

On a global basis VLSFO fell by US$5/tonne and MGO fell by US$4.43/tonne. Regionally Northern Europe and Africa & Middle East were the regions with the largest decline in the blended low sulphur fuel and MGO respectively.

At the same time, the largest regional fall for 380 HFO was US$6.25/tonne for North America and Africa & Middle East, while the global decline was a US$3.60.

South America was the only region to record a gain of US$0.75 in 380 HFO, VLSFO and MGO.

The post Daily bunker index – 31...

https://container-news.com/daily-bunker-index-jan-31/

Daily bunker index – Jan. 30

On a global basis VLSFO remained stable, while MGO fell by US$1.82/tonne. Regionally Northern Europe was the only region to see a decline in the blended low sulphur fuel of US$11.75/tonne. On the other side, Central America saw the biggest increase in VLSFO of US$7.50. North Europe was the region with the largest fall in MGO (US$16.75/tonne).

At the same time, the largest regional fall for 380 HFO was US$5.50/tonne again for North Europe. In the opposite direction, Africa & Middle East was the...

https://container-news.com/daily-bunker-index-jan-30/

Daily bunker index – Jan. 29

On a global basis VLSFO fell by US$5/tonne and MGO increased slightly by US$0.39/tonne. Regionally Asia & Oceania saw the biggest decline in the blended low sulphur fuel of US$19.00 and US$20.00 for the distillate. On the other side, North Europe saw the biggest increase of US$9.50 and US$15.75 for VLSFO and MGO respectively. South Europe and South America were the only regions to remain stable in VLSFO. South Amercia remained also stable in MGO.

At the same time, the largest regional fall for...

https://container-news.com/daily-bunker-index-jan-29/

Daily bunker index – Jan. 28

On a global basis VLSFO fell by US$8/tonne and MGO by US$9.99/tonne, but regionally Southern Europe saw a significant decline in the blended low sulphur fuel of US$13.25 and US$20.75 for the distillate. North America also falls of US$15.50 and US$17.50 for VLSFO and MGO respectively. Central America and North Europe were the only regions to remain stable in VLSFO and MGO, respectively.

By Comparison the largest regional fall for 380 HFO was US$15/tonne for Africa and Middle East. On the other...

https://container-news.com/daily-bunker-index-jan-28/

Daily bunker index – Jan. 24

Discussions on how to deal with sulphur test results that are marginally above the 0.5% level have been a feature of the third full week of the sulphur cap operation.

“The problem lies in the difference between commercial contract interpretation around test precision principles and the MARPOL Annex VI sulphur verification procedures approved by the IMO for authorities to use when obtaining samples from ships to check for compliance,” said one expert.

One reason for fuel as supplied to be slightly...

https://container-news.com/daily-bunker-index-jan-24/

China approves tax waiver for bunker fuel

Reuters reports that China has approved a long-awaited tax waiver on exports of cleaner ship fuel, helping refiners to boost output. Yet, Beijing may initially limit shipments with the aim to focus on growing its coastal marine fuel market.

As ships globally have switched to lower sulfur fuels, or use emissions-removing devices, to comply with new IMO rules, China’s State Council, gave the go-ahead to waive taxes on the 0.5% or very low sulfur fuel oil (VLSFO), leading the way for the final...

https://safety4sea.com/china-approves-tax-waiver-for-bunker-fuel/

Daily bunker index – Jan. 22

The cost of very low sulphur fuel oil (VLSFO) has continued to fall as has the price of 380 heavy fuel oil (HFO), the cost of which declining at a slower pace while the price of 180 HFO has remained stable.

Only the Central American region recorded price increases for the distillate marine gas oil (MGO) and VLSFO. All other regions reported price falls with North Europe reporting a US$6.25/tonne fall in VLSFO price while both categories of HFO remained stable.

Asia and the Middle East and African...

https://container-news.com/daily-bunker-index-jan-21-2/

Daily bunker index – Jan. 21

Bunker prices are showing fluctuations as the maritime sector comes to terms with the new sulphur regulations, reducing sulphur in fuels to 0.5%, globally, except in emission control areas, where the sulphur limit is 0.1%.

Both the Northern European and North American regions showed increases of US$9.75 and US$7.00 per tonne respectively for 380 HFO Asia and Oceania saw a more modest increase of US$1.67. Southern Europe saw a decline of US$2 and South America and Africa and the Middle East the...

https://container-news.com/daily-bunker-index-jan-21/

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