Last week (ending 22, June 2012) oil bunker prices dropped in key ports across the world
IFO380 has made double-digit drops in Singapore, Rotterdam, Fujairah, and Houston, and all four ports once again reached new lows for the month reports 'Ship & Bunker'.
(IFO 380 is Intermediate fuel oil with a maximum viscosity of 380 Centistokes (<3.5% sulphur).
In Asia, Singapore IF380 prices dropped by $11.00 bringing the price to $563.50, while Hong Kong IFO380 fell for the fourth day this week dropping $10.00 to $585.00 per metric tonne (pmt).
LA / Long Beach continued on a downward trend, IFO380 chalking up an 11th consecutive day of losses by dropping $7.50 to $562.50 pmt.