By Srinivas Chowdary Sunkara // petrobazaar // 27th March 2020.
Bunker Price Index consist of a range of prices for 380 HSFO, VLSFO, MGO and MDO futures prices changed insignificant and irregular across the world ports yesterday. In Singapore, Fuel futures prices traded down. IFO 380 cSt futures prices went down $5.5 to $183.75, MDO prices slipped $1.25 to $288 and MGO futures prices closed down $1.25 at $298. Meanwhile crude oil bench mark prices traded down yesterday after three sessions of up as the dwindling demand and expected over supplies over shadowed the massive aid stimulus to stem the economic impact of the corona virus outbreak across the world. Turning to other news, Credit risk in the bunker market is intensifying amid the spreading times of corona virus across the world. Shipping feel heat of lowering demand even though drop in recent fuel oil prices offered some relief. This led to drop in capex by ship owners.
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