SPOT prices for low sulphur bunker fuel reached its highest in eight weeks upping average price by US$7.60 week ending August 16 attributed to the current unrest in Egypt and a decline in US unemployment.
According to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Service, Rotterdam's average price for low sulphur fuel at $617.70 per tonne, up 1.2 per cent from week ending August 9 is a global indicator of prices. One tonne is equivalent to about 6.4 barrels or 300 gallons. By week ending August 15 and August 16, prices rose sharply to between $619.50 and $628.50.
Low sulphur fuel still remains 12.8 per cent down year over year and 0.6 per cent or $3.67 per tonne below the price at the beginning of 2013.@FAXTEXT = In comparison high sulphur spot prices were down less at 6.9 per cent from the same week in 2012 but were up $7.55 from start of 2013, up 1.3 per cent. It averaged $603.30 per tonne in the week ending August 16, down 0.2 per cent or $1.30 per tonne from the week before.
WORLD SHIPPING
22 August 2013 - 22:12
Low sulphur bunker fuel price surges in wake of Egyptian civil strife
SPOT prices for low sulphur bunker fuel reached its highest in eight weeks upping average price by US$7.60 week ending August 16 attributed to the current unrest in Egypt and a decline in US unemployment.
WORLD SHIPPING
22 August 2013 - 22:12
Low sulphur bunker fuel price surges in wake of Egyptian civil strife
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