The week starts with falling bunker prices in key ports

Contributed to IAA PortNews by Ship & Bunker

The week started with lower bunker prices, according to Ship & Bunker data, with some ports seeing double-digit downward movements on Monday.

Singapore IFO380 dropped $9.50 to $604.50 per metric tonne (pmt), the same price the grade hit on April 25, 2013, while Low sulfur 380 cSt product (LS380) moved down $7.50 to $694.50 making the premium for the Emissions Control Area (ECA) compliant fuel $90.00 pmt. MGO moved down $8.00 to $861.50 pmt.

Rotterdam IFO380 was down $4.50 to $589.00 pmt, $1.50 lower than this time last week. LS380 was down for a third market day falling $2.00 to $613.50 pmt. MGO was $2.50 lower at $847.00 pmt, the first downward movement since May 2, 2013.

Fujairah IFO380 fell $11.00 to $609.50 pmt, a forth consecutive market day of lower prices and down $22.00 in that time. MGO at the port moved down $3.00 to $1001.50 pmt.

Houston IFO380 slipped $6.00 to $592.00 pmt, $7.50 lower than this time last week. LS380 at the port was down $5.00 to $643.00 making the premium for the Emissions Control Area (ECA) compliant fuel $51.00 pmt, and MGO slipped $9.50 to $967.00 pmt, a gain of $2.50 over the last 2 weeks.