"Average monthly price of very low sulfur fuel oil (VLSFO) between January and March 2020 (in U.S. dollars per metric ton)." VLSFO is the new standard for ships. 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. The ideal entry-level account for individual users. VLSFO … As a Premium user you get access to background information and details about the release of this statistic. Low bunker prices have also altered some shipping routes, Sand said. 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. Pare down the data you receive to the most important prices and ports needed to monitor the transitioning marine fuel market. Reports on VLSFO usage. Then you will be able to mark statistics as favourites and use personal statistics alerts. Profit from additional features by authenticating your Admin account. The future cost of 3.5% HSFO could go as low as $220/mt. The graph shows the price of HSFO and 0.5% low sulphur fuel oil (VLSFO). New, Everything you need to know about the industry development, Find studies from all around the internet. More locations are added every day, as suppliers world wide gear up […] 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. After the latest technical update on VLSFO HSFO price differential, Viswa Lab has been in the fore front of handling VLSFO fuel quality and its related problems. Port HSFO-380 VLSFO 0.5% ULSFO 0.1% MGO Deliv. Oil price information Last update: 2020-12-21 Nr. 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. Register in seconds and access exclusive features. The only markets left for 3.5% HSFO are power generation, which currently uses LNG and coal (approx. The global shipping world in 2020 will see a challenge no other petroleum-dependent industry has witnessed to date. Get the pricing information you need to take quick action. PBT adds VLSFO prices to indications list 14 October 2019. 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. “Today, the absolute price of everything is lower. Prices were averaged across the 20 leading bunkering ports worldwide. Statista. You can only download this statistic as a Premium user. Evaluate compliance options, source fuel and make cost-effective operating decisions. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Budget friendly. Update, Insights into the world's most important technology markets, Advertising & Media Outlook Are you interested in testing our corporate solutions? 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. 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 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. 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. (April 20, 2020). The reason the HFO-VLSFO spread is so slim is that the VLSFO price has fallen as well. ", 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 24, 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. Corporate solution including all features. But have bunker fuels been forgotten? 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. Please create an employee account to be able to mark statistics as favorites. Learn more about how Statista can support your business. BTU Indicator: Plan the most cost-effective fuel purchase by calculating the energy content in the new 0.5% VLSFO compared to your previous bunker fuel. 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. Directly accessible data for 170 industries from 50 countries Ship owners, refiners, suppliers and fuel managers need the reliable price transparency found in the OPIS Global Marine Fuels Report to make cost-effective decisions regarding their fuel slate in light of IMO 2020 regulations. Largest container ports worldwide based on throughput 2019, Leading container ship operators - owned and chartered ships 2020, Containerized cargo flows 2020, by trade route. Singapore VLSFO 0.5% Historical Price; Historical Prices Available since Jan, 2020 Currently two on the agenda: Here’s a look at the current market. And even some near-term bullish fundamentals that would typically provide the impetus for a rally may not do much to stem the slide. According to BIMCO, 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. 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 … Then you can access your favorite statistics via the star in the header. The report is published using OPIS’ full-day spot pricing methodology for sound and accurate price data. Click here. 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. $114/mt). 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). This statistic is not included in your account. The move could grant … Easily get answers to your questions because every report issue includes contact information for our market editors. 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