image credit: Adobe Stock

Downward trend for global fuel prices

March 16, 2023

Global bunker indices showed a downward trend during the 11th week of the year, according to Marine Bunker Exchange (MABUX).

In particular, the 380 HSFO index fell to US$471.61/MT, the VLSFO index decreased to US$641.41/MT and the MGO index declined to US$915.25/MT.

The Global Scrubber Spread (SS) – the price differential between 380 HSFO and VLSFO – showed a firm decline in Week 11 – minus US$9.16. At the same time, the weekly average also decreased by US$8.90. In Rotterdam, the SS Spread fell by US$17 to US$145, while the weekly average lost US$8.67. In Singapore, the 380 HSFO/VLSFO price difference also continued to decrease, dropping to US$139, with the weekly average losing US$2.50.

Read More on Container News