Tuesday bunker prices continue to rise
Global bunker prices continued to climb on Tuesday with many global ports seeing further double-digit gains, Ship & Bunker reports.
In Asia, both Singapore and Hong Kong saw IFO380 make a fourth consecutive day of gains.
Singapore IFO380 was up $7.50 to $593.00 per metric tonne (pmt), while MGO gained $8.50 bringing the price to $853.00, the highest price since $866.50 on June 11, 2012.
Hong Kong IFO380 moved up $6.50 to $604.50 pmt, and MDO moved up $14.00 to $847.00.
In Rotterdam 380 cSt product was up for a seventh consecutive day, gaining $16.00 and putting the price at $576.00, while MGO moved up $23.50 to $866.50 pmt.
Fujairah IFO380 and MGO bunker prices made gains for a fourth consecutive day, up $7.00 to $592.50 and $6.00 to $1005.50 respectively.
Houston saw both IFO380 and MGO gain for a fifth consecutive day, the price moving up $3.50 to $573.50 and $15.00 to $890.50 respectively.
LA / Long Beach IFO380 was steady at $601.50, while MDO was down $4.00 to $1039.50.
Crude on Tuesday saw the WTI spot price gain $3.91 (4.67%) to close at $87.66 per barrel.