Surging bunker prices have crossed through the $1,000 per tonne mark for the first time in history as commodity prices spike across the board in the wake of the Russian invasion of Ukraine.
Prices for low sulphur fuel oil (VLSFO) entered four-digit dollar territory yesterday at many ports including the world’s top three bunkering hubs, Singapore, Rotterdam and Fujairah. They have continued to surge today with independent broker Bunkerama putting the global average price for VLSFO at $1,051 per tonne as of 07.30 GMT.
The day before the Russian invasion VLSFO prices were at $779 per tonne according to Ship&Bunker.
Prices for high sulphur fuel oil have crossed the $700 mark in recent days.