Spot prices for high and low sulfur bunker fuel saw moderate declines in the week ending June 28, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services. High sulfur bunker fuel reached its lowest average since June 2012.
The average price for high sulfur bunker fuel in Rotterdam, a global indicator of bunker prices, was $577.40 per metric ton in the week ending June 28, down 2.6 percent or $15.30 from the week before. One metric ton is equivalent to about 6.4 barrels or 300 gallons. The decline followed two straight weeks of increases during which it gained $10 per metric ton. The average spot price is now 4.7 percent higher year-over-year, but 3 percent or $18.35 lower than it was at the beginning of 2013.
Low sulfur spot prices averaged $607 per metric ton in the week ending June 28, down 2.8 percent or $17.40 per metric ton. This drop was the first since the week of May 24; prices had increased $18 over the four-week period. The current price is up 2.7 percent from the same week in 2012 but down 2.3 percent or $14.38 from the first week of 2013.