By Srinivas Chowdary Sunkara // petrobazaar // 29th January 2020.
BUNKER PRICE TREND
The world bunker price index consist of a range of prices for 180 HSFO, 380 HSFO , MDO and MGO (Gasoil) in the main world hubs traded down yesterday. In Singapore, 180 cSt graded fuel oil prices remain unchanged, 380 cSt graded fuel oil prices dropped by $20.26 to $343.28 while MGO and MDO prices slumped by $35.86 at $595.5 and $585.5 respectively. Meanwhile the world crude benchmark futures prices rose yesterday followed by a rebound in financial markets, Which were in slump for last four days due to stocking expectations of slowing economy, fueled by China's coronavirus.
The Bunker market in the Russian Far East is suffering from a shortage of very low sulfur fuel oil (VLSFO) according to Russian maritime news agency Portnews, as published in ship&bunker. As per the agency representatives, the acquired volumes are not enough for all the required bunkering operations so far. On the other hand, USGC is reportedly facing the shortage of feed stocks due to closed arbitrage from Europe. High sulfur fuel oil was sidelined from the global marine fuel pool, post IMO-2020 sulfur shift. Limited availability of feedstock on the USGC created an outlet for Russian fuel oil.
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