Wed 11 Feb 2015 12:26

Global bunker average set to fall for first time this month


The BIX global average rose for the seventh consecutive day on Tuesday, but lower price levels have been quoted today in key European, Asian and African ports.



The Bunker Index (BIX) - the daily average global bunker price quoted in US$ per metric tonne - rose for the seventh consecutive day on Tuesday as price levels continued to increase in February. However, the end-of-day global price looks set to fall for the first time this month later today.

Since the end of January, the global bunker average has risen by $39.19, or 8.2 percent, from $477.76 to $516.95 per tonne.

Last week alone, the worldwide average jumped $31.65, or 6.6 percent, from $477.76 to $509.41 per tonne.

Meanwhile, the Bunker Index 380 centistoke (cSt) average increased for the ninth consecutive trading day on Tuesday. Since January 30, the price has skyrocketed $50.37, or 16.4 percent, from $306.42 to $356.79 per tonne.

180 cSt prices were also up for the ninth day in a row on Tuesday. As a result, the global 180 cSt index has increased by $39.1, or 11.1 percent, from $352 per tonne on January 30 to $391.10 per tonne on February 10.

The global marine gas oil (MGO) average - the Bunker Index MGO (BIX MGO) - rose for the third consecutive day on Tueday. Since the end of last month, the price has risen $26.09, or 3.7 percent, from $705.38 per tonne to $731.47 per tonne.

Brent and WTI prices declined by $1.91 and $2.84 per barrel on Tuesday and have continued to fall during trading on Wednesday. As a result, lower bunker price levels have been quoted today in key European, Asian and African ports and the end-of-day global bunker average is also expected to decrease for the first time this month.

Please click click here to view the BIX price summary page.

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