An unexpected consequence of disruptions from Covid-19

BUNKER prices have been volatile over the past several weeks but the overall trend has been clear. Bunkers have become much cheaper.

Heavy fuel oil (IFO 380) was, according to Ship & Bunker, priced at around US$400 a tonne in December. A couple of days ago it put the global average price at just over the US$200 mark.

That in itself is remarkable and has implications for the cost of shipping services, at least for now.