Bunker prices enter four-digit territory for the first time

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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