Bunkers stable in 2013, ECA Changes ahead in 2015

Worldscale released their estimated bunker prices for 2014 this week. Over the past year prices have fallen from $686/t to $632/t for high sulphur and $779/t to $713/t for 1% low sulphur. Bunker prices have been highly volatile since 2009, when they rose from the mid $200/t range to the mid $600/t range by 2011 for high sulfur grades. In addition, during this time spreads ranged from $197/t in 2011 and $181/t in 2012 with a wide range of deviations from the average, making timing of purchases critical. However, in 2013 prices stopped their climb and have held near their year to date average of $607/t in the key bunkering ports of Rotterdam, Houston and Singapore. The steadying prices in 2013 have helped reduce the uncertainty in operating expenses for ship owners. Download here