Contributed to IAA PortNews by Ship & Bunker
A number of key ports today ended runs of downward movement that lasted over a week, but Ship & Bunker data showed prices overall lacked direction on Thursday.
Singapore IFO380 ended a run of falling pries lasting 6 consecutive markets days with a gain of $4.50 to $600.50 per metric tonne (pmt). Low sulfur 380 cSt product (LS380) was up $7.50 to $691.50 making the premium for the Emissions Control Area (ECA) compliant fuel $91.00 pmt, while MGO edged up $0.50 to $863.00 pmt.
Rotterdam IFO380 made its first upward movement since May 7 climbing $2.00 to $582.50 pmt. LS380 gained $1.00 to $609.00, and MGO fell $3.50 to $843.00 pmt for a change of $-4.00 over the last week with a spread of $6.50 in that time.
Fujairah IFO380 ended its run of downward movements that started on May 8, gaining $4.00 to $604.50 pmt for a week-on-week change of $-23.00. MGO was $1.00 higher at $1001.00 pmt, the first gain since May 8.
Houston IFO380 continued on the downward trend it started on May 8 by falling for a seventh consecutive market day, down $2.50 to $582.00 pmt. LS380 was up $0.50 to $641.50 making the premium for the Emissions Control Area (ECA) compliant fuel $59.50 pmt, and MGO was $0.50 higher at $966.00 pmt.
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