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Mon 15 Nov 2010, 18:42 GMT

Prices plummet in the Med


BIX MED falls $13.34 per tonne as price levels tumble across the region.

The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - plummeted $13.34 today, or 2.22 percent, to $601.19 per tonne as bunker prices tumbled in the region following Friday's $2.93 per barrel fall in the price of WTI crude.

380-centistoke (cst) and 180-cst prices dropped by $12-$20 per tonne in the Mediterranean ports of Algeciras, Augusta, Fos, Genoa, Gibraltar, Off Malta 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 $14.63 to $490.25 per tonne, whilst the Bunker Index Med 180 CST (BIX MED 180 CST) fell by $13.50 to $513.00 per tonne.

Marine gas oil (MGO) prices plummeted on average by $13.60 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 $772.20 per tonne from $785.80 on Friday.

The most significant price declines for low sulphur MGO were seen in Augusta, Genoa and Piraeus, where levels fell by $18-$20 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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