Mon 4 Apr 2016 08:31

Singapore MGO vs ICE Gas Oil in March


Analysis of Singapore marine gas oil (MGO) and ICE Gas Oil prices in March.

The average price of marine gas oil (MGO) at the port of Singapore rose at a less significant rate than ICE Gas Oil during the month of March, according to Bunker Index and Intercontinental Exchange (ICE) price data.

The ICE Gas Oil settlement average increased by $49.45 per tonne, or 16.2 percent, to $355.31 per tonne in March. During the same period, the Singapore MGO average was up $44.00 per tonne, or 14.7 percent, to $344 per tonne.

Between March 2015 and March 2016, the monthly MGO average in Singapore is down $200 per tonne, or 36.8 percent, from $544 to $344 per tonne, whilst the ICE Gas Oil settlement average is lower by $188.69 per tonne, or 34.7 percent, from $544.00 to $355.31 per tonne.

Please find below tables of monthly ICE Gas Oil settlement averages and Singapore MGO averages between January 2015 and March 2016.

Month ICE Gas Oil ($/mt) +/- +/-(%)
Mar 2016 355.31 +49.45 +16.17
Feb 2016 305.86 +15.25 +5.25
Jan 2016 290.61 -62.49 -17.70
Dec 2015 353.10 -82.00 -18.85
Nov 2015 435.10 -22.63 -4.94
Oct 2015 457.73 +12.78 +2.72
Sep 2015 470.51 +6.93 +1.49
Aug 2015 463.58 -57.49 -11.03
Jul 2015 521.07 -58.43 -10.08
Jun 2015 579.50 -21.31 -3.54
May 2015 600.81 +40.13 +7.16
Apr 2015 560.68 +16.68 +3.07
Mar 2015 544.00 -21.73 -3.84
Feb 2015 565.73 +88.96 +18.66
Jan 2015 476.77 -95.89 -16.74


MonthSpore MGO ($/mt)+/-+/- (%)
Mar 2016344 +44.00 +14.67
Feb 2016300 +9.00 +3.1
Jan 2016291 -71.00 -19.6
Dec 2015362 -74.00 -17.0
Nov 2015436 +5.00 +1.1
Oct 2015441 -4.00 -0.9
Sep 2015445 +11.00 +2.53
Aug 2015434 -60.00 -12.15
Jul 2015494 -71.00 -12.57
Jun 2015565 -20.00 -3.42
May 2015585 +37.00 +6.75
Apr 2015548 +4.00 +0.70
Mar 2015544 -11.00 -2.00
Feb 2015555 +58.00 +11.67
Jan 2015497 -101.00 -16.89
A screenshot taken from Peninsula's homepage on October 4, 2024. Peninsula to receive first of four tankers in Q2 2025  

Methanol-ready vessels form part of bunker supplier's fleet renewal programme.
Stephen Robinson, pictured on his appointment as Head of Bunker Strategy and Procurement at Tankers International. Stephen Robinson heads up bunker desk at Tankers International  

Former Bomin and Cockett MD appointed Head of Bunker Strategy and Procurement.
Chart showing percentage of off-spec and on-spec samples by fuel type, according to VPS. Is your vessel fully protected from the dangers of poor-quality fuel? | Steve Bee, VPS  

Commercial Director highlights issues linked to purchasing fuel and testing quality against old marine fuel standards.
Ships at the Tecon container terminal at the Port of Suape, Brazil. GDE Marine targets Suape LSMGO by year-end  

Expansion plan revealed following '100% incident-free' first month of VLSFO deliveries.
Hercules Tanker Management and Hyundai Mipo Dockyard sign bunker vessel agreement Peninsula CEO seals deal to build LNG bunker vessel  

Agreement signed through shipping company Hercules Tanker Management.
Illustration of Kotug tugboat and the logos of Auramarine and Sanmar Shipyards. Auramarine supply system chosen for landmark methanol-fuelled tugs  

Vessels to enter into service in mid-2025.
A Maersk vessel, pictured from above. Rise in bunker costs hurts Maersk profit  

Shipper blames reroutings via Cape of Good Hope and fuel price increase.
Claus Bulch Klausen, CEO of Dan-Bunkering. Dan-Bunkering posts profit rise in 2023-24  

EBT climbs to $46.8m, whilst revenue dips from previous year's all-time high.
Chart showing percentage of fuel samples by ISO 8217 version, according to VPS. ISO 8217:2024 'a major step forward' | Steve Bee, VPS  

Revision of international marine fuel standard has addressed a number of the requirements associated with newer fuels, says Group Commercial Director.
Carsten Ladekjær, CEO of Glander International Bunkering. EBT down 45.8% for Glander International Bunkering  

CFO lauds 'resilience' as firm highlights decarbonization achievements over past year.

↑  Back to Top


 Related Links