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Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
 
Some trade sources expect further drop of VLSFO due to competitive prices offered by other ports in the region.
 
For instance, China’s Zhoushan port had offered VLSFO at a record discount to Singapore’s levels of $31.50/mt since the start of week.
 
Besides, the crude prices recovery was still at its infancy after the recent wild swings, and might not find the bottom yet as COVID 19 is believed to slash oil demand as much as 20-30 million barrels per day, against the OPEC + output cut of 9.7-10 million barrels per day.
Source: Freight Investor Services


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Recent News

Tuesday, 31 March 20
COAL POWER REMAINS IN GLOBAL DECLINE, DESPITE CHINESE SURGE - SYDNEY MORNING HERALD
The impact of coronavirus has prompted a surge in coal-fired power plant construction permits in China, with the Chinese government issuing more pe ...


Monday, 30 March 20
CORONAVIRUS - IMPLICATIONS FOR SHIPS AND CREW - GARD
KNOWLEDGE TO ELEVATE Countries around the world are strengthening their border control measures in order to prevent the further spread of COVI ...


Monday, 30 March 20
LAY-UP AND RE-ACTIVATION REVISITED - GARD
KNOWLEDGE TO ELEVATE The COVID-19 pandemic has affected the maritime industry in previously unthinkable ways. Ports around the world are denyi ...


Monday, 30 March 20
PANAMAX: INDONESIA LACKED VOLUME, PARTLY DUE TO FORCE MAJEURE IN INDIAN PORTS - BALTIC BRIEFING
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Saturday, 28 March 20
ASIA'S COAL MARKETS DIVERGE ON QUALITY LINES AS CORONAVIRUS HITS INDIA - REUTERS
Asia’s seaborne coal market is increasingly diverging between higher-quality Australian coal, where prices are holding up despite the economi ...


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