The average indicative price at the port of Vladivostok for high-sulfur product IFO-180 HS plummeted by $12.0 pmt to settle at $ 272 pmt, MGO price lost $10.0 to $ 533.0 pmt, the IAA PortNews,Bunker Price Bulletin shows.
Fuel oil prices on the domestic market were ranging RUB 18,000 to 19,000 pmt, price range per a tonne of MGO was between RUB 33,000 and 34,000.
The port of Singapore also saw a decline in bunker prices at the beginning of the 30th week. Fuel oil price dropped $2.0 on average, while MGO price lost $ 12.0.
Average indicative price for MGO at the port of Singapore is lower than that in the port of Vladivostok by $ 50 on average, making the price in Russia's Far Eastern port uncompetitive. Participants of the market attributed the difference to a spike in sale prices at local refineries, and to a small deficit in the dark fuels segment. The market participants expect a further substantial reduction in prices.