Sparked by the military conflict in Ukraine and the potential of up to 3 million bpd loss of Russian supply, the extreme volatility in bunker markets is here to stay. As a result of Week 12, the 380 HSFO Index rose by 35.97 USD: from 685.86 USD/MT to 721.83 USD/MT. The VLSFO index went up by 47.87 USD: from 895.98 USD/MT to 943.85 USD/MT. The MGO index gained 47.15 USD (from 1111.93 USD/MT to 1159.08 USD/MT). At the same time, growth rates have significantly decreased compared to those two weeks earlier.
The Global Scrubber Spread (SS) weekly average – the difference between 380 HSFO and VLSFO – fell slightly over the week compared to the sharp growth two weeks earlier: minus $22.42 ($215.59 vs. $238.00 last week). In Rotterdam, the average SS Spread dropped from $267.67 to $217.17 (minus $50.50 from last week). In Singapore, the average SS Spread also fell by $40.50 from $261.17 to $220.67. The average Global SS Spread and Ports SS Spread continue to stay above the $200 mark. More information is available in the Price Differences section of mabux.com.