Fuel Prices Rise

According to the specialized publication Ship & Bunker, marine fuel prices at the four major bunkering ports (Singapore, Rotterdam, Fujairah, and Houston) have increased to double in 2016. Together, these four ports account for 25% of the total volume supplied worldwide.

Singapore is the world's leading port in bunkering activity. The IFO 380 fuel was sold on December 30 at $346 per ton, 86% more expensive than on January 4 of the same year.

In Rotterdam, the same fuel was sold at $310 at the end of the year, more than double the price in January when it was $142. In Texas, the price increased from $148 to $314, representing a 113% increase. In Fujairah, the price rose from $170 in January to $338 by the end of December.

Photo: Julio A. Rodríguez Hermosilla