The absolute price of bunkers has fallen sharply since the start of the year, largely inline with the fall in crude. The easing of Middle East tensions, higher oil stocks, and now, far more significantly, the impact and uncertainty surrounding the Coronavirus have meant oil prices have dropped. Correspondingly, representative VLSFO prices East of Suez are down from around $750/ton in early January towards $500/ton currently, a drop of some 25-35%.
It has been over a month since the IMO2020 regulation came into force and there are mixed views on how the transition has gone so far. Some participants claim the switch has gone smoothly, while others highlight the constant quality issues with the VLSFO blends.Read More
- Fuel oil tightness means shipowners pay more for bunkers in ARA
- Market Intelligence Podcast – Oil fundamentals and impact on the bunker market
- Market Intelligence Podcast – Episode 15
- Oil Fundamentals are tightening and prices rising, but if and when will we see $400 or even $500 VLSFO Prices
- Market Intelligence Podcast – Episode 14