By Srinivas Chowdary Sunkara // petrobazaar // 12th Dec 2019.
Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs rose yesterday. IFO 180 cSt and 380 cSt graded fuel oil prices settled $6 or 1.58% down to $374 and $344 respectively while MGO futures prices remain unchanged yesterday. The world crude oil benchmark price indices sagged down yesterday after looking at bearish weekly numbers from U.S government. Expected fresh U.S tariffs on Chinese goods by Sunday fueled the prevailing trade war worries which clouded demand outlook.
Buying bunker fuel is mostly about getting at competitive price. This is as topical today, particularly going into 2020. One needs to keep in mind that best quoted price does not always means that buyer is getting the quality product. One key fuel property to be considered is net calorific value, which often ignored. Net calorific value is an important parameter that shows how much energy is produced by combusting the fuel.
Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com
imo news courtesy:ship&bunker