The price of bunker fuel is continuing to decrease sharply as the global shipping industry absorbs the impact of the coronavirus (Covid-10).
Whereas the bunker price for the Port of Durban was $520 last Monday, up from $324 as reported by Cockett Marine Oil the week before, it plunged to $288 by last Friday.
This morning the price continued its downward trajectory to $220 at noon.
With new Covid-19 infections decreasing as the world’s grip on the contagion seems to tighten, lines are hoping for a restoration of supply chain volumes.
It could result in a turnaround for the bunker price.
