By Srinivas Chowdary Sunkara // petrobazaar // 10th Dec 2019.
The Bunker price index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs ticked up yesterday. IFO 180 cSt and 380 cSt graded fuel oil futures prices gained 2.16% or $8 to $378 and $348 respectively while MGO futures prices went $1.5 up to $593 yesterday. The world crude oil benchmark prices sagged down yesterday after a data showed a decline in Chinese exports in Nov compared to last year.
There seems to be a disruption in the bunkering market not due to product availability, But it is the problem of barge availability as per ship&bunker. The waiting time to load IMO-2020 compliant fuel stretches to 10-12 days across the major ports. The pressure on bunker barge schedules is two fold. Tanks need to be prepared to carry different fuel grades of which there are now more. As some ships are sticking with high sulfur fuel oil, A barge may carrying three rather than two grades with ships wanting an increasing range of volume, all of which takes time to deliver.
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imo news courtesy:ship&bunker