Spot prices for high and low sulfur bunker fuel experienced slight movement this week, with high sulfur inching up and low sulfur edging down in the week of June 7, according to daily Bunkervision price data via international marine fuel oil broker LQM Petroleum Services. This is the fourth consecutive week of declines in high sulfur bunker rates.
The average price for high sulfur bunker fuel in Rotterdam, a global indicator of bunker prices, inched down 0.3 percent or $1.85 per metric ton to $582.90. One metric ton is equivalent to about 6.4 barrels or 300 gallons. During the last four weeks, high sulfur bunker fuel prices fell 2.4 percent or $14.60 in total. The average spot price is currently 2.5 percent higher than the same week in 2012, the first year-over-year increase since early October 2012, but 2.2 percent or $12.85 lower than it was at the beginning of 2013.
Low sulfur spot prices averaged $609.90 per metric ton last week, edging up 0.4 percent or $2.40. Rates for this fuel type have been rising and falling by less than 5 percent for the past three months. The current price is down 1.4 percent from the same week in 2012 and 1.8 percent or $11.48 from the first week of 2013.