Global bunker prices end the week lower
Contributed by Ship & Bunker
Global bunker prices in most key ports ended the week lower, Ship & Bunker data showed, although some gains were seen in North and Western Europe on Friday where movements were mixed.
There was a public holiday in Singapore on Friday as the country observed Vesak Day, but sources indicated the market for IFO380 fell for a third consecutive day, down $2.50 to $592.00 per metric tonne (pmt) and a week-on-week change of $-11.00. Low sulfur 380 cSt product (LS380) was steady at $697.50 on Friday, while MGO was $4.50 lower at $859.00 pmt, down $22.50 since this time last week.
Rotterdam was one of a number of European ports making gains today, with IFO380 making the first upward movement since Monday to end the day $2.00 higher at $580.00 pmt, but still priced $6.50 lower week-on-week. LS380 climbed $3.00 to $601.00 pmt, the first gain since last Friday, to end the week $13.00 lower than the last. MGO at the port fell for a third day, down $2.50 to $845.50 pmt, and down $7.00 week-on-week.
After IFO380 prices in Fujairah were unchanged on Monday, they have been making small downward movements every day since then. Friday was no exception, with the product slipping $1.50 to $598.00 pmt for a week-on-week change of $-10.00. MGO was up $1.50 to $1001.50 pmt, $5.00 lower than this time last week.
Houston IFO380 prices have been falling for most of May, and apart from a gain on Monday have also been falling this week. The product was down $3.00 today to $579.50 pmt, $5.00 lower than this time last week. LS380 moved down $7.50 to $630.00, down $13.00 since last Friday, while MGO was down $10.50 to $960.50 pmt, $8.50 lower week-on-week.
Global bunker prices for over 140 ports: http://shipandbunker.com/prices