Spot rates for high and low sulfur bunker fuel showed little movement during the week of April 26, according to daily Bunkervision price data via international marine fuel oil broker LQM Petroleum Services, Inc. This followed two weeks of significant declines, which were due to crude prices dropping 10 percent over the same time period, according to Mitchell Karp, Vice President of LQM.
The average price for high sulfur bunker fuel was $577.90 per metric ton. One metric ton is equivalent to about 6.4 barrels or 300 gallons. This spot rate inched down 0.2 percent or $1.20 from the week before and is currently 16.5 percent lower than the same week in 2012. High sulfur bunker fuel had fallen 4.8 percent or $29 during the two weeks prior. The price is now 3 percent or $17.85 lower than it was at the beginning of 2013.
Low sulfur spot prices in Rotterdam had an average of $590.70 per metric ton last week, which resulted from the first increase in low sulfur bunker fuel in the month of April. This price edged up 0.5 percent or $3 from the week before, but remained down 20.4 percent from the same week in 2012, when it averaged $741.90. Low sulfur bunker fuel had fallen by 5.8 percent or $36 over the past two weeks. The current rate is 5 percent or $30.68 lower than in the first week of 2013.