Bunker prices in the Far East ports sank in early 31st week (graph)
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According to Bunker Price Bulletin of IAA port news, the average indicative price at the port of Vladivostok for high-sulfur product IFO-180 HS was $ 253 pmt (-$19), MGO price was $ 522 pmt (-$11).
Fuel oil prices on the domestic market were ranging RUB 18,000 to 18,500 pmt, price range per a tonne of MGO was between RUB 33,000 and RUB 33,500 pmt.
The port of Singapore saw a decline of bunker prices. Fuel oil price fell to $297 pmt, MGO – to $454 pmt (-$22).
Average indicative price for MGO at the port of Singapore is still lower than that in the port of Vladivostok by $ 60 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 expect a further reduction in prices.
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