Container shipping fuel prices remain elevated as supply fears ease
The cost of fuel for ocean-going cargo ships more than doubled so far this year, although supplies have improved. The post Container shipping fuel prices remain elevated as supply fears ease appeared first on FreightWaves .
Container shipping fuel prices have remained high despite a decrease in supply concerns, putting pressure on vessel operating costs. In Singapore, the world's largest bunkering center, very-low-sulfur fuel oil (VLSFO) averaged about $908 per metric ton, while marine gasoil (MGO) was priced at $1,448 per ton and high-sulfur fuel oil at around $770 per ton, according to analyst Ship & Bunker.
Rotterdam, Europe's busiest port, saw VLSFO at approximately $731 per ton, Houston at $804 per ton, and Fujairah, the Middle East's main bunker hub, at roughly $1,005 per ton. The premium at Fujairah reflects ongoing issues with traffic and supply-chain disruptions around the Strait of Hormuz. Bunkering activity at Fujairah has recovered to about 40% of its pre-war level, but still lags behind normal operations.
Bunker costs have surged by more than 100% since January in Singapore, more than 60% above pre-conflict levels, even after temporary relief from the Red Sea and Hormuz tensions. This price increase has impacted container lines, tanker owners, bulk carriers, and ship managers, with potential cost recovery through negotiated bunker adjustment factors, emergency fuel surcharges, or higher spot freight rates.
Written by urgent.news from FreightWaves's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
