Spot prices dropped for both high and low sulfur bunker fuel in Rotterdam in the week of May 17, according to daily Bunkervision price data via international marine fuel oil broker LQM Petroleum Services Inc. This followed upticks in recent weeks.
Low sulfur spot prices in Rotterdam averaged $612.90 per metric ton last week, down 2.2 percent or $13.60 from the week before. One metric ton is equivalent to about 6.4 barrels or 300 gallons. This dip follows three straight weeks of accelerating price hikes for this fuel type, with increases during the period totaling $39. The current price is down 10 percent from the same week in 2012 and 1.4 percent or $8.48 from in the first week of 2013.
The average price for high sulfur bunker fuel was $587.40 per metric ton. This spot price declined by the same rate at which it increased last week, 1.7 percent, down $10.10. During the prior two weeks, high sulfur bunker fuel prices increased 3.4 percent or $20 total. The average spot price is currently 7.4 percent lower than the same week in 2012 and 1.4 percent or $8.35 lower than it was at the beginning of 2013.