Bunker prices slide to seven-year low

The price of marine fuel is dropping alongside the price of oil, and on Monday it hit a seven-year low, writes Seatrade Global.

Photo: Ed Wray/AP/POLFOTO/arkiv

The sliding oil price has made its mark on the global prices for bunker fuel, which hit a seven-year low this Monday. At this point, a ton of bunker fuel cost USD 168.5 on average, measured with the bunker index in Singapore, 380 Centistoke Bunker Fuel Spot Price, writes Seatrade Global. The last time that prices fell to similar levels below USD 200 per ton, was the 31st of December, 2008, where the price was at USD 198, writes the media.

The prices have dropped quickly and in line with the plunge in the price of crude oil, which came to USD 36.6 for a barrel of Brent on Tuesday. At the end of November, a ton of marine fuel cost USD 225.5, and from there it fell to USD 195.5 on the 8th of December, and further down to USD 168.5 on Monday of this week.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Tankers CEO sees no reason to merge tanker carriers

It has long been discussed, and the chief executive of a competitor points to Maersk Tankers as a driver in the tanker sector's consolidation race. However, Maersk Tankers CEO Christian M. Ingerslev does not see much sense in combining balance sheets, he tells ShippingWatch.

Further reading

Related articles

Latest news

See all jobs