Global oil prices are stabilizing following the recent fall. Fuel prices continue going down. The competition is still tough with market players trying to sell high-sulphur fuel oil which will not be in demand from January 2020 due to new IMO sulphur cap introduced for marine fuel.
Market players set dumping prices for high-sulphur fuel oil.
Bunker suppliers start offering VLSFO (with sulphur content not exceeding 0.5%) which fully complies with MARPOL requirements. They say there is a demand for this product although low yet.
According to IAA PortNews Bunker Prices Review, bunker fuel prices at port St. Petersburg were as follows:
Average price of IFO-380 HS - $250 pmt.
Average price of MGO - $555 pmt.
Average price of ULSFO - $480 pmt.
IFO-380 HS prices range between $240 and $270 pmt.
Bunker prices at the port of Rotterdam fell by $20 on the average.
The difference between maximum/minimum prices depends on the amount of fuel sold and its availability.
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