The price of bunker fuel has continued to level out after the volatility experienced last week.
Cockett Marine Oil reported today’s price for the Port of Durban at $224, slightly up from $220 earlier this week.
Diminished supply chain volumes caused by the coronavirus and a plunging oil price caused the steep dip in Durban’s bunker price, down from $520 last week to the current levels.
The price reflects mounting indications that the ocean freight sector is ready to return to full service levels as China’s manufacturing sector gathers momentum.
