Bunker prices have fallen by more than 30% since mid-year and shipping lines are grinning at the significant cost savings.
And, during this week, the price of Rotterdam-sourced intermediate fuel oil fell another US$14 per tonne in a single day, after plunging a whole US$28 last Friday. It has now reached a new five-year low of US$365 per tonne.
Also, the plummeting prices have now reduced the price of low-sulphur fuel to US$615 per tonne.
This is the same price heavy fuel oil was when carriers were calculating surcharges on low-sulphur fuel. And they were calculating these on the assumption that low-sulphur would be 50% more than standard heavy fuel oil (HFO).
This, it has been reported, would make the January 1 imposition of these low-sulphur fuel surcharges in emissions control areas difficult to justify.
Source: Loadstar
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