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High and low sulphur fuel prices plunge, falling 40pc since September
HIGH sulphur fuel prices out of Rotterdam, a leading benchmark for the world, fell 9.4 per cent to US$338 a tonne while low sulphur fuel dropped 8.5 per cent to $349 a tonne this week, reports BunkerVision.
Bunker prices began declining in July, but the steep weekly spirals have been more recent, noted Newark's Journal of Commerce. Since September, the price per tonne of high sulphur fuel fell 40.3 per cent, while low sulphur fuel was down 39.3 per cent.
Since January, high sulphur prices are down 42.7 per cent, while low sulphur prices dropped 43.4 per cent. Both prices are currently at five-year lows.
London's Drewry Maritime Research estimates that carriers will recover about half of their fuel costs. Bunker surcharges are often left off of big-volume contracts, and ships are rarely fully utilised, Drewry said.
The price for low-sulphur marine fuel oil in Rotterdam is also dropping, down to $580 a tonne, down $42 from last week, but still higher than bunker fuel prices, according to data from pricing provider BunkerIndex.
New emission control areas (ECA), covering 200 miles off Canada and US as well as the English Channel, the North and Baltic seas, will enforce the use of low-sulphur fuel from January 1.
Bunker prices began declining in July, but the steep weekly spirals have been more recent, noted Newark's Journal of Commerce. Since September, the price per tonne of high sulphur fuel fell 40.3 per cent, while low sulphur fuel was down 39.3 per cent.
Since January, high sulphur prices are down 42.7 per cent, while low sulphur prices dropped 43.4 per cent. Both prices are currently at five-year lows.
London's Drewry Maritime Research estimates that carriers will recover about half of their fuel costs. Bunker surcharges are often left off of big-volume contracts, and ships are rarely fully utilised, Drewry said.
The price for low-sulphur marine fuel oil in Rotterdam is also dropping, down to $580 a tonne, down $42 from last week, but still higher than bunker fuel prices, according to data from pricing provider BunkerIndex.
New emission control areas (ECA), covering 200 miles off Canada and US as well as the English Channel, the North and Baltic seas, will enforce the use of low-sulphur fuel from January 1.
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