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Fri 16 Jul 2010, 13:44 GMT

Med average tumbles $11 per tonne


Prices plummet in the Mediterranean with marine gas oil recording the day's most significant decreases.

The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - plummeted $11.06 today, or 2.0 percent, to $536.73 per tonne as bunker prices tumbled across the region.

380-centistoke (cst) and 180-cst prices dropped by $10 per tonne and over in the Mediterranean ports of Algeciras, Fos, Genoa, Gibraltar, Limassol and Piraeus.

As a consequence, the Bunker Index Med 380 CST (BIX MED 380 CST) - the average price for 380-cst in the region - decreased by $10.28 to $447.72 per tonne, whilst the Bunker Index Med 180 CST (BIX MED 180 CST) fell by $10.11 to $473.22 per tonne.

Marine gas oil (MGO) prices recorded the most significant price drops today with distillate levels plummeting on average by $14.55 per tonne as the Bunker Index MGO (BIX MED MGO) - the average price for marine gasoil (high and low sulphur) in the region - decreased to $675.75 per tonne from $690.30 the previous day.

Significant price declines for low sulphur MGO were seen in Algeciras, Augusta, Fos, Genoa, Gibraltar and Piraeus, where levels fell by between $15-$18.50 per tonne.

For further information regarding regional and global indices published by Bunker Index, please click on the following link below.

http://www.bunkerindex.com/prices/indices.php

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