Bunker prices have hit year-low figures in concert with the slump in Brent figures.
Average prices for very low sulphur fuel oil – the bunker used by the majority of the commercial shipping fleet – has ducked below $600 per ton at the world’s top four bunkering hubs in December, standing at $581 as of Wednesday according to data from Ship & Bunker, a far cry from the more than $1,000 owners were having to pay in June when prices hit all-time highs.
The latest weekly report from the Marine Bunker Exchange anticipates the downward trend in the global bunker market to continue next week.
The price differential between low and high content sulphur fuel remains strongly in favour of owners who have invested in scrubbers, standing at $248 yesterday in Singapore, the world’s largest bunkering hub.
