Durban’s Hi5 spread blows out as VLSFO price surges
Durban’s Hi5 spread has widened sharply over the last month, as the port’s VLSFO price has climbed while its HSFO price has held broadly flat. The Hi5 spread in Durban stood at $308/mt today, up from $80/mt on 1 September, according to ENGINE’s price data. Durban’s VLSFO price has risen by $245/mt to $1,177/mt today, ...
The Hi5 spread in Durban has significantly widened over the past month, with the price of VLSFO rising sharply while the price of HSFO has remained relatively flat. As of today, the Hi5 spread in Durban stands at $308/mt, up from $80/mt on September 1st. This surge in the Hi5 spread increases the economic benefit for scrubber-fitted ships calling in Durban to bunker with HSFO.
Currently, there is only one supplier delivering HSFO in Durban, while there are three suppliers offering VLSFO, with a reported stronger demand for VLSFO. Durban's VLSFO price is the most expensive among South Africa's main bunker ports and is priced at premiums over several other ports in the region.
Brief written by urgent.news from Hellenic Shipping News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
