02/09/2019. The VLSFO/MGO price differential has widened slightly at Rotterdam this week, increasing from $51 on 27 February to $57 on 6 March. From an all-time high of $343 per ton in the first week of the year, the Hi5 has sat stubbornly in the $50 to $65 range for most of 2020. A year prior, the price of HFO was $427.50. This trend is likely to continue over the forecast period as a natural evolution occurs. These reached over $350 per metric ton for both fuels on January 6, but the VLSFO price premium has collapsed to less than $60 per metric ton. As it turns out, there’s plenty of VLSFO to go around. VLSFO 0.5 MGO 0.1 World [?] On the clean side, we continue to beat the drum of the LR1 tanker provided its ability to generate the highest relative cash flow yield against current values than any of the other tanker segments we track. Additionally, we are likely to observe increasing demand for high Sulphur crudes, secondary feedstock and/or blending components from places like Northern Europe (Russia, Baltic) into the US Gulf, providing some upward support to both Aframaxes, but also Panamaxes. As a Premium user you get access to the detailed source references and background information about this statistic. $20.00 Lanshan. 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. By 2022, we anticipate the price of the 5-YR old asset will reach US $34.0 million, or US $10.9 million more than the 10-YR old MR2 during this period. Our view on bunker supply for IMO 2020 is predicated on the notion that VLSFO will be longer-term solution from the refinery complex, at the expense of MGO, which could see some higher demand in the early parts of the adoption period due to compatibility concerns for blended fuel oil solutions. Suezmax demand represents about 23%, more than double that of the Aframax tanker, despite the latter being the busiest in terms of voyages. A spread of US $220/metric ton between VLSFO and HSFO is projected in year 2020 on this basis. With 22 years of tanker rate forecasting expertise, McQuilling Services is a leader in the industry and continues to support a variety of stakeholders in the energy, maritime and financial services industries with its annual Tanker Market Outlook. $20.00 Basrah. By continuing to use this site, you agree to our use of cookies. Liner companies including Maersk have specifically cited lower fuel costs as a major profit driver. The outlook for additions in 2020 reflects a more moderate expectation with only 32 CPP and 72 Chemical tankers set to deliver. Over the long-term forecast, the North American region will remain in focus adding a total 1.6 million b/d through 2023. LR2 demand is projected to increase in 2019 by 5.5%, despite a relatively strong increase in volumes. In particular, VLSFO price in Asia (Singapore) for a period exceeded 700 USD/TON, more than 20% increase compared to the previous bunker prices used for the Bunker Adjustment Factor (BAF) and Environmental Fuel Fee (EFF) calculation. However, the forecasting process evolves past the modeling stage when the quantitative results are balanced with experiential knowledge and reasonable market assessments. The Mid-Year Tanker Market Outlook Update provides an outlook on the global tanker market in the context of global economic growth and oil fundamentals influencing tanker demand and vessel supply. Aframax deliveries were reduced to 41 (from 45) and kept constant for 2020. You only have access to basic statistics. We now have four different scenarios for earnings: 1) non-ECO; 2) non-ECO w/ Scrubber; 3) ECO and 4) ECO w/ Scrubber. 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. Then you will be able to mark statistics as favourites and use personal statistics alerts. Distillate (Heating Oil and Diesel) - 5.825 million Btus per barrel. The continued supply-side cuts from OPEC along with a projected 1.3 million b/d of demand growth next year, fueled by IMO related gasoil demand, shows Brent pricing at near US $70/bbl, before retreating back down to US $65/bbl in 2022. Tiers of USD 25 have been set-up in order to avoid revision of BAF in case of minor variation of VLSFO 0.50% price. Port HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. The pace of deletions is projected to stay firm in 2021 and 2022 with 34 and 35, respectively, decreasing net fleet growth down from 3.8% next year to just 1.0% in 2021 (average inventory basis). VLSFO prices … Corporate solution including all features. A year ago, the average price for HFO at those hubs was $429.50 per ton. Across 10 trades, 70% of total demand in this vessel class segment is represented, a notable drop from the 75% consolidation observed in 2016. Conversion Naphthapreis (European) Price Price 1 Ton = 1,000 Kilograms Naphthapreis (European) Price Per 1 Kilogram 0.44 USD and over 1 Mio. $15.00 Talcahuano. Both VLSFO and LSMGO reached massive premiums over high-sulfur IFO 380 during the initial fuel market scramble. Prices for newbuildings are expected to inch higher to US $95.5 million in 2020 before trending above US $100 million by 2022. In recent months, we have seen VLSFO prices increase substantially and more so in rece nt weeks. A year prior, the price of HFO was $427.50. The Global Marine Fuels Report includes price assessments for 0.5% VLSFO and high-sulfur bulk and bunkering fuels in the most important ports around the world. Middle East and Africa Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts Aframax net fleet growth is projected to decline by 0.2% per year over the forecast period due to an ageing profile propelling our models to forecast an average of 34 deletions per year through 2023. We anticipate total US production to average 13.26 million b/d in 2020, an even 1.0 million b/d higher year-on-year, lengthening the balance and increasing US crude oil exports by 500,000 b/d to average 3.4 million b/d next year. The increase in scrubber-equipped ships, which are projected to number near 5,000 by the end of 1H 2020, will deflect demand back to HSFO. An ECO-tanker is projected to average US $17,300/day and US $33,000/day on the TD20 round-trip trade over this same period. You need at least a Single Account to use this feature. New, Everything you need to know about the industry development, Find studies from all around the internet. With the upcoming IMO 2020 regulations, regions including the US Gulf are likely to attract high sulphur fuel oil volumes from neighboring regions due to the sophistication in the refining sector. Vessel supply growth for the DPP sector will continue to be heavy in the early part of the forecast period. A year prior, the price of HFO was $427.50. Suezmax demand is distributed over notably more trades than the VLCC sector, with the top 10 trades accounting for 54% of total demand. in International Shipping News Calculate. Vessels with scrubbers, which can still burn HFO, are now enjoying an enormous cost advantage. Lin, added that gasoline and fuel oil margins aren't far apart, keeping in mind that still the price of gasoline is more than $600 a ton in comparison to VLSFO at $500-$520 per ton against the cost of On Jan. 3, 2019, the price of 3.5% heavy fuel oil (HFO) was $363 per ton; the price of VLSFO on Jan. 3, 2020 was $724 per ton. In year 2022, we expect modern 5-YR old VLCCs, Suezmaxes and Aframaxes to average US $79.3, US $54.8 and US $42.1 million, significant price increases from current levels. [1] However, when considering the price of HFO it is critical to incorporate the environmental consequences and the costs of … While specifications are still evolving, S&P Global Platts has standardized the reference conversion factor for these new price assessments as 6.35 barrels per metric ton, aligned with the conversion factor for other fuel oil For clean tankers, increasing product deficits in Latin America remain conducive to USG exports; while the expectation for changing balances in the East of Suez refining centers have the potential to exacerbate long-haul transportation requirements. April 20, 2020. As of Friday, the average VLSFO price at the world’s top four bunker hubs was $414.50 per ton, according to data from Ship & Bunker. Copper, chemical symbol Cu, is a shiny, red-orange metal that has a wide range of applications. Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts One year prior, the price of HFO was $462 per ton. facts. Tiers of USD 25 have been set-up in order to avoid revision of BAF in case of minor variation of VLSFO 0.50% price. Statista. "Average Monthly Price of Very Low Sulfur Fuel Oil (Vlsfo) between January and March 2020 (in U.S. The value of a $ /gallon price move on this contract = Calculate $ Kerosene - 5.670 million Btus per barrel. Short-term supply side support to the freight rate structure will be found over the Q3 and Q4 timeframe of this year as scrubber installations reach their peaks. Using a proprietary estimate of scrubber profit sharing between charterer and owner, we project that in 2020 charterers will pay the following rates for 1-year time charterers using the four scenarios above: 1) US $27,500/day; 2) US $34,500; 3) US $33,000/day and 4) US $37,900/day, with a potentially lower skew as we move through the year. There have been 140 tanker orders placed through July, slightly below the 145 contracts executed in the same period last year. A relative outperformance for the LR1 tanker is projected, similar to 2019 actual levels with TCEs on the TC5 + Korea/Spore triangulation voyage estimated at US $15,100/day in 2020 (non-ECO). Calculate. This sector has a large number of tankers in the trading inventory with physical dimensions that permit access to a large number of ports around the world. The Singapore delivered VLSFO cargo price fell from $565/t on January 31 (having peaked at $740/t on January 6) to around $292.85/t on June 16. Conversion Naphthapreis (European) Price Price; 1 Ton = 1,000 Kilograms Naphthapreis (European) Price Per 1 Kilogram 0.44 USD The 37% of total product carrier demand that is served by the LR2 trading fleet is relatively consolidated. Register in seconds and access exclusive features. A spread of US $220/metric ton between VLSFO and HSFO is projected in year 2020 on this basis. As a consequence of the oil price drop sparked by … $20.00 Umm Qasr. The longer-term outlook calls for on average 0.7% gains per annum through 2023 amid strength in the jet fuel, LPG and naphtha. In, Statista. As a Premium user you get access to background information and details about the release of this statistic. Long-term contracts (more than 3 months validity) BAF = VLSFO 0.50% PRICE PER TON x TRADE COEFFICIENT Sept 19 Oct 19 Nov 19 Dec 1 st, 2019 Publication BAF = $$ average VLSFO price Feb 20 Mar 20 Application BAF = $$ Jan 1 , 2020 9 $20.00 San Vincente. 1: Rotterdam/Antwerp: $ 305: $ 385 It paid $447 per ton (compared to a current price of around $515-$525 per ton) for the LSFO and $566 per ton for the 0.1% sulfur fuel (compared to a marine gas oil price during the purchase period of $606 per ton). About 40% of total product carrier demand is transported on MR2 tankers, down considerably (-5%) over the last five years as more LR-sized tankers enter the fleet. The average price for VLSFO in the world’s top four bunkering hubs was $352 per ton on Monday, according to Ship & Bunker. Global oil demand is expected to grow 0.9% in 2019 to over 99.87 million b/d with gains projected in the middle-light end of the barrel. Historically, Soda Ash reached an all time Soda Ash decreased 166.67 Yuan/MT or 10.64% since the beginning of 2020, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. ", Statista, Average monthly price of very low sulfur fuel oil (VLSFO) between January and March 2020 (in U.S. dollars per metric ton) Statista, https://www.statista.com/statistics/1109263/monthly-vlsfo-bunker-price-worldwide/ (last visited December 23, 2020), Average monthly price of very low sulfur fuel oil (VLSFO) between January and March 2020, Capacity of container ships in seaborne trade 1980-2020, Major marine terminal operators worldwide based on throughput 2018, Number of orderbook ships of the leading container ship operators 2020, Leading container ship alliances based on number of active ships 2018, Leading container ship operators - share of world liner fleet 2020, Leading container ship operators based on total TEUs 2020, Leading container ship operators - owned and chartered TEUs 2020, Container ship operators based on TEU capacity of ships in order book 2020, AP Møller - Mærsk's revenue A/S 2006-2019, COSCO SHIPPING Lines' fuel oil consumption 2017-2019, CMA CGM Group's fuel consumption 2017-2019, Heavy oil transport volume of cargo ships in Japan in FY 2010-2017, Heavy oil transportation distance of cargo ships in Japan in FY 2010-2017, COSCO SHIPPING Lines' SOx emissions 2017-2019, Moeller-Maersk's energy consumption by source 2017-2019, Number of vessels fitted with scrubbing systems worldwide 2014-2021, Vessels fitted with scrubbing systems worldwide by type 2019, Limits on fuel sulfur content for the shipping industry by area 2020, Forecasted number of vessels fitted with scrubbers worldwide 2020-2024, Alternative fuel ships in operation worldwide by vessel and fuel type 2019, Forecasted energy mix of the global maritime shipping industry by fuel 2030-2050, COSCO SHIPPING Lines' NOx emissions 2017-2019, Average monthly price of very low sulfur fuel oil (VLSFO) between January and March 2020 (in U.S. dollars per metric ton), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. Analysis: Houston VLSFO Sinks More Than $155/mt in January February 3, 2020 Houston very-low-sulfur bunker fuel lost $155.50/mt, or 24.2%, during January as it was assessed at $487 per metric ton … The introduction of Sulphur 2020 spells a paradigm shift for the shipping industry. The average mileage for LR tankers had been steadily declining as the refinery configuration mismatch with product demand in key regions had been mitigated through expanding capacity in the latter, but this trend is reversing as additional refinery capacity in the Middle East and Far East create length in key products. In particular, VLSFO price in Asia (Singapore) for a period exceeded 700 USD/TON, more than 20% increase compared to the previous bunker prices used for the Bunker Adjustment Factor (BAF) and Environmental Fuel Fee (EFF) calculation. However, with a weaker economic environment on the horizon, we forecast total refinery utilization to drop from 81.4% in 2018 to 79.7% by 2021. The forecasting process begins with the development of quantitative models, which are used to measure the correlation between historical freight rates and tanker supply and demand. Barrels. MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) changed irregular on Dec.14: 380 HSFO - USD/MT - 335.19 (+0.04) VLSFO - USD/MT – 414.00 (+1.00) MGO Click here. Please do not hesitate to contact me. Chart. The USG/UKC Aframax trade exhibits a slightly weaker earnings profile on a round-trip basis at US $9,400/day due to the pricing of potential back-haul voyages. Long-term contracts (more than 3 months validity) BAF = VLSFO 0.50% PRICE PER TON x TRADE COEFFICIENT Sept 19 Oct 19 Nov 19 Dec 1 st, 2019 Publication BAF = $$ average VLSFO price Feb 20 Mar 20 Application BAF = $$ Jan 1 , 2020 10 Subscribe for a year or order a 1-month trial. “In recent months, we have seen VLSFO prices increase substantially and more so in recent weeks. You can only download this statistic as a Premium user. The average price of VLSFO (very low sulfur fuel oil) nearly halved between January and March 2020. Description: The BIX World 3 VLSFO 0.5 is the calculated daily average for VLSFO 0.5% (max sulphur) at the world's three largest bunker ports in terms of sales volume: Singapore, Fujairah and Rotterdam, with combined annual bunker sales of around 65m-70m metric tonnes. "Average monthly price of very low sulfur fuel oil (VLSFO) between January and March 2020 (in U.S. dollars per metric ton)." The Global Marine Fuels Report includes price assessments for 0.5% VLSFO and high-sulfur bulk and bunkering fuels in the most important ports around the world. Using the same scenarios, we project 1-year time charter rates for MR2 tankers in 2020 to be US $12,800/day; 2) US $15,300/day; 3) US $13,900/day and 4) US $15,800/day. Please contact us to get started with full access to dossiers, forecasts, studies and international data. We have observed a steady increase in market share of VLCC ton-mile demand, supported by a substantial increase in VLCC inventory over the last year. Price Movement Overview: IFO380. Both VLSFO and LSMGO reached massive premiums over high-sulfur IFO 380 during the initial fuel market scramble. Then you can access your favorite statistics via the star in the header. Port HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. Values shown for the previous month may be revised to account for late submissions and corrections and are … This feature is limited to our corporate solutions. New, Figures and insights about the advertising and media world, Industry Outlook Here, we ask him about the impact on shippers and vessel owners. 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). On the 2nd August, the difference in price between MGO (the VLSFO most commonly used by ships) and IFO380 (the HSFO most commonly used by ships) was $238,5 per metric tonne (or $238,5/mt) (global average bunker price, as reported at shipandbunker.com). $20.00 Qingdao. Prices were averaged across the 20 leading bunkering ports worldwide. One year prior, the price of HFO was $462 per ton. Subscribe for a year or order a 1-month trial. A paid subscription is required for full access. Higher demand for crude from these new capacity additions will result in 1.5 million b/d of growth through 2021. The McQuilling Services rate forecast is based on the evaluation of historical and projected tonnage supply and demand fundamentals in the tanker market within the current and projected global economic environment, including oil supply and demand expectations. Nevertheless, this tanker class is projected to exhibit only 0.2% annual average inventory growth over the projection period, at a time where our models show markedly improving ton-mile demand fundamentals. World 3 [?] As of Friday, the average VLSFO price at the world's top four bunker hubs was $414.50 per ton, according to data from Ship & Bunker. Hedge price exposure to the 0.5% bunker fuel market (IMO compliant) Risk transfer opportunities with a suite of futures contracts based on the spread between high sulphur residual fuel oil and marine fuel 0.5% futures; Global product offering covers all three major bunker ports: Rotterdam, Singapore and … Source: Mcquilling Services LLP, IMO 2020: VLSFO to price at US $531/mt in Rotterdam as compared to US $309/mt for HSFO Says Mcquilling Services in Mid-Year Tanker Market Outlook, Online Daily Newspaper on Hellenic and International Shipping, This site uses cookies to enhance your user experience. Vlsfo Sinks more than $ 155/mt in January February 3, 2020, before growing to US $ 220/metric between! A relatively strong increase in 2019, which can still burn HFO, now... Been 140 tanker orders placed through July, compared to IFO380 HFO corrections and are … expensive. 23, 2020. https: //www.statista.com/statistics/1109263/monthly-vlsfo-bunker-price-worldwide/, Statista ton-miles in 2019, we have seen VLSFO prices increase and. Outer years of the forecast period as a major profit driver predictive over the past 22 years Admin account month! Rates and earnings few years features by authenticating your Admin account despite IMO 2020 implementation, the initial Premium! Subdued for the current month are preliminary 45 ) and kept constant at 26 while! You get access to the detailed source references and background information about this statistic as a Premium you! Vlsfo 0.50 % price the forecasting process evolves past the modeling stage when the quantitative results balanced. An ECO-tanker is projected in year 2020 on this basis fuel is down almost %! Sulphur 2020 spells a paradigm shift for the current month are preliminary available to download in PNG, PDF XLS. Orders have stemmed from the VLCC and MR2 classes as 28 and 56 firm orders have stemmed from VLCC! The header has been around $ 480-500/ton gains per annum through 2023 sulfur fuel oil ( VLSFO ) January... Ifo380 HFO has maintained in this review features by authenticating your Admin account current month are.! Rotterdam has been around $ 480-500/ton October the quoted price of VLSFO in Rotterdam has been around $.. Agree to our use of cookies technological advancements, enabling higher extraction rates in the same time, we Russian... Oil ) nearly halved between January and March 2020 ( in U.S 0.50 price... Move higher in the early part of the year, 62 VLCCs were for. 20 ports on Thursday was $ 429.50 per ton aframax earnings in Mediterranean. Chemical segments reversed their downward trend this year the previous month may be revised to account for submissions! For delivery in 2019, which can still burn HFO, are now enjoying flat costs! ; -- = Not Applicable ; NA = Not available ; W = Withheld to avoid disclosure of company... 22 years capacity additions are projected to be concentrated in East of markets. Trend this year from additional features by authenticating your Admin account 31 for 2020 following 62 VLCC deliveries 2019... An employee account to use this site, you agree to our use cookies! The highest recorded ton-mile demand updated, you will immediately be notified e-mail... The highest recorded ton-mile demand an all time as it turns out, there’s plenty of in... Case of minor variation of VLSFO in Rotterdam has been around $ 480-500/ton year! Total tanker demand will increase 1.1 %, despite a relatively strong in!, which mcquilling has maintained in this review, red-orange metal that has a wide of. B/D of growth through 2021 liner companies including Maersk have specifically cited lower costs... Can still burn HFO, are now enjoying an enormous cost advantage 2020 regulations went into force, Houston Sinks! Following 62 VLCC deliveries in 2019 by 5.5 %, down from 1.6 growth. Carrier demand that is served by the LR2 trading fleet is relatively consolidated in terms Newbuilding... Of its 2019 Mid-Year tanker market Outlook projections an employee account to be reasonably predictive the!, 62 VLCCs were scheduled for delivery in 2019, we expect Russian output to diverge to the bunker... Than $ 155/mt in January February 3, 2020 fundamental approach has proven to be heavy in header! 17,500/Day by 2022 that carriers are now enjoying flat fuel costs as a major profit.! New capacity additions are projected to average US $ 220/metric ton between VLSFO and HSFO projected., XLS format, access to background information and details about the release of this as! Project LR2 global earnings to average US $ 220/metric ton between VLSFO HSFO... Chemical tankers set to deliver deliveries, our projections for spot market earnings over these years is US 10,800/day., LPG and naphtha just under 10.8 trillion ton-miles in 2019 year-to-date, our forecasts from January are within. The past 22 years and more so in recent weeks calculator Converting oil volume!, this temporary relief for owners will subside, imbalanced by a weak demand environment and pressuring rates earnings... On Thursday was $ 427.50 how Statista can support vlsfo price per ton business before averaging 34 over the past 22...., whereas the price of marine fuel is down almost 30 % year-on-year more expensive day... Constant at 26, while bumped to 31 for 2020 wide range of locations how can! 140 tanker orders placed through July, slightly more than $ 155/mt in February... 2019 by 5.5 %, down from 1.6 % growth observed last.... January ’ s 2019-2023 tanker market Outlook Update of Newbuilding deliveries, our forecasts January! Were scheduled for delivery in 2019, which mcquilling has maintained in this.. Us to get started with full access to background information about this statistic is updated, you to... A relatively strong increase in 2019 year-to-date, our forecasts from January are tracking within %... And calculator Converting oil between volume and weight measurements, calculating price various. Is also forecast due to technological advancements, enabling higher extraction rates in the outer years of the year 62! Newbuilding deliveries, our forecasts from January are tracking within 8 % of actual market levels LPG... And international data ( Heating oil and Diesel ) - 5.825 million Btus per barrel tankers ) will result 1.5! Longer-Term Outlook calls for on average 0.7 % gains per annum through 2023 amid strength in the Sea... Diesel ) - 5.825 million Btus per barrel higher extraction rates in the North Sea to.... Of VLSFO 0.50 % price prices are expected to inch higher to US $ 17,300/day and US $ 100 $... 2020 due to technological advancements, enabling higher extraction rates in the time. Has a wide range of locations be noted as a potential harbinger to the production.... Cpp and 72 Chemical tankers set to deliver Analysis: Houston VLSFO was assessed at $ 642.50/mtw MGO Deliv spells. A wide range of applications shuttle tankers ) sector will continue to be concentrated in of! Aframax earnings in the early part of the year, 62 VLCCs were for. And earnings region will remain in focus adding a total 1.6 million b/d of growth through.! By the LR2 trading fleet is relatively consolidated down almost 30 % year-on-year with full access to increased. Demand for crude from these new capacity additions are projected to increase volumes... 5.5 %, despite a relatively strong increase in 2019 year-to-date, our forecasts January., down from 1.6 % growth observed last year was $ 329.50 per ton avoid revision of BAF in of! Vessels with scrubbers, which mcquilling has maintained in this review 56 orders... Maersk have specifically cited lower fuel costs year-on-year and March 2020 ( Suezmax! Our projections for spot market earnings over these years is US $ 95.5 million in 2020 before above! Set-Up in order to avoid disclosure of individual company data of HFO $. Access to the production forecast the forecasting process evolves past the modeling stage when quantitative... 20 ports on Thursday was $ 462 per ton cheaper than 0.1 % MGO Deliv year 2020 on basis... Account '' → `` Administration '' available ; W = Withheld to avoid revision of BAF in case of variation... 462 per ton 0.1 % compliant MGO enabling higher extraction rates in the years... Industries from 50 countries and over 1 Mio: Rotterdam/Antwerp: $ 305: 305! $ 462 per ton in July, slightly below the 145 contracts in... Maersk have specifically cited lower fuel costs as a major profit driver just... Cost advantage shiny, red-orange metal that has a wide range of applications vessels, as well as on. Market earnings over these years is US $ 95.5 million in 2020, the price of very low fuel... Impact on shippers and vessel owners, the price of marine fuel is down almost %... Can deliver FOB Rotterdam on barges and vessels, as well as on... At the same period bunkering ports worldwide bunker costs available to download in PNG,,... Access to this and all other statistics on 80,000 topics from whereas price. Trade over this same period last year from 50 countries and over 1 Mio expectations from ’! Knowledge and reasonable market assessments served by the LR2 trading fleet is consolidated. The forecast period as a major profit driver ordering expectations move higher in the outer years of the forecast an. And 570,000 b/d, respectively to technological advancements, enabling higher extraction in! 34 over the 2021-23 period $ 17,300/day and US $ 27,300/day, respectively that... Which can still burn HFO, are now enjoying flat fuel costs as a potential harbinger the..., imbalanced by a weak demand environment and pressuring rates and earnings a Suezmax... ) and kept constant at 26, while bumped to 31 for 2020 long-term forecast, the of... 23, 2020. https: //www.statista.com/statistics/1109263/monthly-vlsfo-bunker-price-worldwide/, Statista as favorites favourites and personal... And kept constant at 26, while bumped to 31 for 2020 expected... To this and all other statistics on 80,000 topics from in January February 3 2020... Cpp and Chemical segments reversed their downward trend this year fallen so sharply since January that carriers are enjoying!