You need at least a Single Account to use this feature. Singapore May be Delivery Point for China VLSFO Futures Contract. The only markets left for 3.5% HSFO are power generation, which currently uses LNG and coal (approx. You can only download this statistic as a Premium user. In Asia, prices for 0.5% VLSFO, 380 CST HSFO, and MGO are reported for the key ports of Singapore; Fujairah; Chiba, Japan; Busan, South Korea; Kaohsiung, Taiwan and Zhoushan, China. The global shipping world in 2020 will see a challenge no other petroleum-dependent industry has witnessed to date. This statistic is not included in your account. In, Statista. Shipowners will therefore move between VLSFO and MGO, depending on their level of comfort or concern about the new fuel quality and relative price levels. Oil price information Last update: 2020-12-21 Nr. "Average monthly price of very low sulfur fuel oil (VLSFO) between January and March 2020 (in U.S. dollars per metric ton)." The IMO 2020 rule, effective Jan. 1, requires all ships that do not have exhaust-gas scrubbers to burn either 0.5% sulfur fuel known as very low sulfur fuel oil (VLSFO) or 0.1% sulfur marine gasoil (MGO). You need a Single Account for unlimited access. Statista. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from. The OPIS BTU Indicator helps buyers plan cost-effective fuel purchases by calculating the energy content in the new 0.5% VLSFO compared with legacy high-sulfur marine fuels. Global cargo and bunker fuel prices, 0.5% VLSFO & global shipping market analysis. Declining fuel … The price for VLSFO at Rotterdam has shown some volatility in recent days and has ended the week some $35 down, at $365 p/mt, which is still by far the cheapest price for this grade among the main supply hubs. Currently two on the agenda: Also featured are exclusive OPIS benchmarked ULSD rack prices for key North American markets, plus ULSD spot prices for Gulf Coast, New York Barge, Los Angeles, and the Pacific Northwest. Pare down the data you receive to the most important prices and ports needed to monitor the transitioning marine fuel market. “Today, the absolute price of everything is lower. VLSFO … Leading oil market pricing agency S&P Global Platts assessed the delivered bunker price for marine fuel oil with 0.5% sulphur — or very low sulphur fuel oil — at $700 per tonne as of yesterday in Singapore, the highest ever seen for trades done at the world’s top bunker hub by marine fuel sales. Corporate solution including all features. This report is a “one-stop shop” for key marine fuel prices in the most important regions, presented with handy tables, charts and graphs for at-a-glance reading. The remainder will be made up of very-low sulphur fuel oil (VLSFO) blends, a largely unknown entity in the bunker market. Rigby’s solution to IMO 2020 is rooted in traditional refining hydrotreating processes. ]: Subscribe for a year or order a 1-month trial. Evaluate compliance options, source fuel and make cost-effective operating decisions. In this post, part two of our five-part series on IMO 2020 , we take a look at what VLSFO blends may look like next year, what the main components will be, where they will be produced and what compatibility issues may arise. Meanwhile, Singapore delivered marine fuel 0.5%S premium fell 52.5% from a record high of $93.45/mt on January 10 to $44.38/mt January 31. Physical Bulk and Bunker Marine Fuel Pricing and News for Asia, Europe and the Americas. (April 20, 2020). Chart. From January 1, 2020, the former can only be used by a vessel that has an exhaust gas … The VLSFO/MGO price differential has widened slightly at Rotterdam this week, increasing from $51 on 27 February to $57 on 6 March. Trust OPIS price assessments because they are based on transactional data that occurs over the course of the entire trading day. This feature is limited to our corporate solutions. PBT adds VLSFO prices to indications list 14 October 2019. Oil Price Information Service (OPIS) © 2020 All rights reserved, Watch now to discover the benefits of the Global Marine Fuels Report, International Feedstocks Intelligence Report, Retail Year in Review and Profit Outlook Report, Customized Retail Fuel Prices and Margins, OPIS/STALSBY Petroleum Terminal Encyclopedia, View the Global Marine Fuels Report product fact sheet, California Do Not Sell My Personal Information. “In recent months, we have seen VLSFO prices increase substantially and more so … According to S&P Global: The VLSFO-HSFO spread in Singapore is some $340 per metric tonne (p/mt) – the third highest level since low sulphur fuel became widely available. Platts data shows the average drop in VLSFO prices of $325/mt between January and April means that shipowners were set to save $16,266 a day during April, assuming a vessel consumes 50 mt/day of fuel. Click here. New, Figures and insights about the advertising and media world, Industry Outlook Prices were averaged across the 20 leading bunkering ports worldwide. Very low-sulfur fuel oil (bunker with 0.5% sulfur) has increased in price and is now on par with gasoil (MGO 0.1% sulfur). 1: Rotterdam/Antwerp: $ 300: $ 375 Accessed December 24, 2020. https://www.statista.com/statistics/1109263/monthly-vlsfo-bunker-price-worldwide/, Statista. Dollars per Metric Ton). “With the lower cost of sailing, some companies have started to sail around the Cape of Good Hope on the Asia-Europe backhaul … As a Premium user you get access to background information and details about the release of this statistic. And when the new fuel spec starts trading, OPIS will report on its true market value as we do with all other fuel prices we report. The reason the HFO-VLSFO spread is so slim is that the VLSFO price has fallen as well. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Prices of both 3.5% sulphur US Gulf HSFO and 0.5% sulphur VLSFO fell by 65.5% and 59.5%, respectively, from January 29 to March 27, along with the rest of the oil market. IMO 2020 emission regulations issued by the International Maritime Organization required vessels to use lower-sulfur bunkering fuel, effective January 1, 2020. This report is beneficial for ship owners and operators, refiners, bunker fuel buyers, procurement mangers, traders, brokers, and professionals at integrated fuel companies and marine departments. Date Price $/mt Change High Low Spread; M Dec 21: 375.50-12.50: 378.00: 373.00: 5.00: F Dec 18: 388.00 +0.50 The answer is no. Singapore VLSFO 0.5% Historical Price; Historical Prices Available since Jan, 2020 IMO 2020 emission regulations issued by the International Maritime Organization required vessels to use lower-sulfur bunkering fuel, effective January 1, 2020. The two-month freefall in the price of very low-sulfur fuel oil (VLSFO) is accelerating due to the widespread economic impact of the coronavirus disease 2019 (COVID-19), energy experts said this week. Get the pricing information you need to take quick action. Read our collection of the latest bunker fuel market news and insight on IMO 2020 impact on diesel prices and distillate blends, VLSFO, bunker fuel prices and more. In the Americas, prices for all the above products plus LT cycle oil and LNG in Houston; New York; New Orleans; Savannah; Los Angeles; Seattle; Panama; Philadelphia; Norfolk; Vancouver, Canada; Manzanillo, Mexico; Veracruz, Mexico and Valparaiso, Mexico. A paid subscription is required for full access. The market has become distracted from its prior focus on IMO 2020 due to COVID-19 and a crude oil price war. Start a free 30-day trial and receive a daily file via email at the end of each business day. The graph shows the price of HSFO and 0.5% low sulphur fuel oil (VLSFO). Download a sample report and see for yourself. Are you interested in testing our corporate solutions? Jet fuel prices in Singapore plunged from above $70 a barrel in January to close to $20 in early May before recovering to trade around $41, according to … Port HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. VLSFO was heard in the $565/mtw in Houston and in the low $600s in NOLA. Indicative prices for 0.5% VLSFO are based on a formula that relies on price assessments calculated on a full day’s trading. Please authenticate by going to "My account" → "Administration". Very low sulphur fuel oil (VLSFO) prices at the world’s largest bunkering hub rose 30% between 2 December and 2 January, the shipping organisation highlights. Easily track marine cargo and bunker fuel prices for Asia, Europe and the Americas with this concise report featuring at-a-glance tables and charts. Budget friendly. The trials included numerous switchovers between ULSFO and higher sulphur fuels (LSFO 1%S, HSFO 3.5%S) and involved several engine types and tank/piping systems. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? As a Premium user you get access to the detailed source references and background information about this statistic. The drop in prices is largely attributed to weak demand as well as the easing of tight barge avail schedules. On the same day VGO was assessed by the OPIS International Feedstock Report at $7/bbl over WTI for a prompt barge volume of 0.5%S VGO, or $52.28/bbl (further out … Profit from additional features by authenticating your Admin account. Reports on VLSFO usage. The ideal entry-level account for individual users. Yearly, 2019 prices are 70.8 USD/bbl, … Ships with scrubbers can continue to burn 3.5% sulfur heavy fuel oil (HFO). Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts There had been bunker fuel alerts raising these risks in Singapore, and the Netherlands (in May 2020), which found VLSFO breaking Safety at Sea (SOLAS) laws, making the fuel more flammable. Low bunker prices have also altered some shipping routes, Sand said. April 20, 2020. Latest Prices, VLSFO Fuel Oil, IMO2020 Grade, 0.5%S. Directly accessible data for 170 industries from 50 countries The spread between VLSFO and high-sulfur fuel used by shippers that installed scrubbers was $330 per tonne in Singapore and $272 per tonne in Houston, S&P Global Platts data showed. facts. New, Everything you need to know about the industry development, Find studies from all around the internet. and over 1 Mio. As a consequence of the oil price drop sparked by … VLSFO 0.5% w/w S (Northwest Europe) The October 2019 price for VLSFO fell to 75.3 USD/bbl from 86.1 USD/bbl in October 2018. The repercussions set the stage for high fuel prices. Learn more about how Statista can support your business. Please create an employee account to be able to mark statistics as favorites. Prompted by a price surge of very-low sulphur fuel oil (VLSFO) since the implementation start of the sulphur cap 2020, Danish shipping major Maersk has decided to increase its bunker surcharge. The US Gulf VLSFO-HSFO March 2-27 premium averaged $15 per barrel, narrowing from a $39 per barrel average in December. Then you will be able to mark statistics as favourites and use personal statistics alerts. Statista. We expect that the price difference between MGO and 0.5% compliant VLSFO will initially become smaller as demand for 0.5% fuel oil will be higher since this is the cheapest option. 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