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The price of 380-centistoke (cst) in Rotterdam dropped below the $200 per tonne mark today as price levels at Europe's leading bunker port by volume fell for a second consecutive day.

Rotterdam had recorded price spreads of $199-$204 per tonne and $197-$203 per tonne on November 13th and 17th respectively, but this is the first time since before the record highs of the summer that the daily port price has fallen below the $200 barrier, reaching $198 today.

Marine fuel prices in Rotterdam peaked on July 15th when 380-cst was selling at a record $729 per tonne with an intraday spread of $728-$733 per tonne. Since then, the 380-cst price has plummeted $531, representing a 72.8 percent decrease over the past four months.

Rotterdam is the largest bunkering centre in Europe with annual sales volumes of between 13 and 13.5 million tonnes. It joins an exclusive list of ports to record 380-cst price levels below the $200 per tonne mark, all of them located in Europe. They are: St Petersburg, Antwerp, Tallinn and Kaliningrad.

Some suppliers in the black sea port of Novorossiysk are also reported to have been quoting 380-cst below the $200 per tonne barrier today. However, with a price spread of $199-$202, the Bunker Index price for the day was $202 per tonne.

The world's cheapest port, St Petersburg, recorded a $10 decrease in the price of 380-cst today to $150 per tonne, according to Bunker Index price data. Meanwhile, 180-cst was being quoted at $160 per tonne, whilst both low sulphur 380-cst and 180-cst are also underneath the $200 per tonne mark at $180 and $190 per tonne respectively.

St Petersburg is the largest-selling bunker port in Russia with annual sales volumes of approximately 1.5 million tonnes and an important source of fuel oil for the Rotterdam market.