Latest news from Heavy Lift & Project Forwarding International Magazine

BIMCO enhances bunker pricing tool

BIMCO members can now monitor the price spread between low-sulphur marine gas oil and high-sulphur fuel oil in 32 different ports around the world.

The interactive bunker pricing tool, supported with daily information supplied by MABUX, was initially launched in October to assist members make bunkering decisions before an after January 1, 2020 – the official deadline for the IMO sulphur cap.

When the tool was launched, it only covered Singapore and Rotterdam prices. Now, an additional 30 ports have been added, inclining Antwerp, Hong Kong and Pireaus.

“We have seen significant fluctuations in the market over the past couple of months – fluctuations that can only be explained by the massive uncertainty about the future. It is currently not operating by market fundamentals. We hope this tool will provide our members with a helping hand, when making decisions about – for example – bunkering ports,” said BIMCO.

www.bimco.org

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