Fri 6 Mar 2015, 17:54 GMT

Singapore MGO vs ICE Gas Oil


Analysis of Singapore marine gas oil (MGO) and ICE Gas Oil prices in February.



The average price of marine gas oil (MGO) at the port of Singapore rose at a less significant rate than ICE Gas Oil during the month of February, according to Bunker Index and Intercontinental Exchange (ICE) price data.

The ICE Gas Oil settlement average increased by $88.96 per tonne, or 18.66 percent, to $565.73 per tonne in February. During the same period, the Singapore MGO average was up $58 per tonne, or 11.67 percent, to $555 per tonne.

Between February 2014 and February 2015, the monthly MGO average in Singapore declined by $361 per tonne, or 39.41 percent, from $916 to $555 per tonne, whilst the ICE Gas Oil settlement average decreased by $355.47 per tonne, or 38.59 percent, from $921.20 to $565.73 per tonne.

Please find below tables of monthly ICE Gas Oil settlement averages and Singapore MGO averages between January 2012 and February 2015.

Month ICE Gas Oil ($/mt) +/- +/-(%)
Feb 2015 565.73 +88.96 +18.66
Jan 2015 476.77 -95.89 -16.74
Dec 2014 572.66 -135.07 -19.08
Nov 2014 707.73 -46.04 -6.10
Oct 2014 753.77 -78.73 -9.46
Sep 2014 832.50 -36.20 -4.17
Aug 2014 868.70 -20.56 -2.31
Jul 2014 889.26 -22.49 -2.47
Jun 2014 911.75 +4.55 +0.50
May 2014 907.20 -0.34 -0.04
Apr 2014 907.54 +5.69 +0.63
Mar 2014 901.85 -19.35 -2.10
Feb 2014 921.20 +7.34 +0.80
Jan 2014 913.86 -24.41 -2.60
Dec 2013 938.27 +22.75 +2.48
Nov 2013 915.52 -14.13 -1.52
Oct 2013 929.65 -8.95 -0.95
Sep 2013 938.60 +4.49 +0.48
Aug 2013 934.11 +22.56 +2.47
Jul 2013 911.55 +37.66 +4.31
Jun 2013 873.89 +14.15 +1.65
May 2013 859.74 -4.98 -0.58
Apr 2013 864.72 -48.97 -5.36
Mar 2013 913.69 -82.21 -8.25
Feb 2013 995.90 +36.50 +3.80
Jan 2013 959.40 +32.80 +3.54
Dec 2012 926.60 -10.46 -1.12
Nov 2012 937.06 -46.61 -4.74
Oct 2012 983.67 -2.71 -0.27
Sep 2012 986.38 +19.28 +1.99
Aug 2012 967.10 +76.52 +8.59
Jul 2012 890.58 +50.71 +6.04
Jun 2012 839.87 -93.11 -9.98
May 2012 932.98 -70.17 -6.99
Apr 2012 1003.15 -21.07 -2.06
Mar 2012 1024.22 +24.09 +2.41
Feb 2012 1000.13 +46.46 +4.87
Jan 2012 953.67 +28.28 +3.06


MonthSpore MGO ($/mt)+/-+/- (%)
Feb 2015555 +58.00 +11.67
Jan 2015497 -101.00 -16.89
Dec 2014598 -119.00 -16.60
Nov 2014717 -31.00 -4.14
Oct 2014748 -86.00 -10.31
Sep 2014834 -36.00 -4.14
Aug 2014870 -14.00 -1.58
Jul 2014884 -21.00 -2.32
Jun 2014905 -5.00 -0.55
May 2014910 +4.00 +0.44
Apr 2014906 +2.00 +0.22
Mar 2014904 -12.00 -1.31
Feb 2014916 +10.00 +1.10
Jan 2014906 -33.00 -3.51
Dec 2013939 +24.00 +2.62
Nov 2013915 -5.00 -0.54
Oct 2013920 +4.00 +0.44
Sep 2013916 -4.00 -0.44
Aug 2013919 +12.00 +1.32
Jul 2013907 +31.00 +3.54
Jun 2013876 +20.00 +2.34
May 2013856 -1.00 -0.23
Apr 2013857 -55.00 -6.03
Mar 2013912 -62.00 -6.36
Feb 2013974 +40.00 +4.28
Jan 2013934 +16.00 +1.74
Dec 2012918 -4.00 -0.43
Nov 2012922 -26.00 -2.74
Oct 2012948 -25.00 -2.57
Sep 2012973 +13.00 +1.35
Aug 2012960 +92.00 +10.60
Jul 2012868 +48.00 +5.85
Jun 2012820 -105.00 -11.35
May 2012925 -63.00 -6.38
Apr 2012988 -20.00 -1.98
Mar 20121008 +24.00 +2.44
Feb 2012984 +29.00 +3.04
Jan 2012955 +35.00 +3.80


J-ENG 6UEC35LSGH hydrogen-fuelled engine unveiling. Japan Engine completes land-based testing of landmark hydrogen-fuelled engine for large vessels  

Hydrogen co-firing rate of at least 95% achieved during factory testing.

Aerial view of tanker vessel at sea. Ethanol edges into shipping’s fuel mix as methanol crossover eases adoption barriers  

Rising interest from cargo owners, shared technology with methanol and Brazilian production growth push ethanol beyond regional niche status.

AiP award ceremony for multi-purpose fuel tank and FGSS design. ABS grants Hanwha Ocean approval for dual-fuel tank enabling LNG-to-ammonia switch  

In-principle approval awarded for fuel tank and supply system enabling LNG carriers to convert to ammonia without replacement.

Lloyd's Register issues Factual Statement (FS) for PureMetrics CEMS. Lloyd's Register confirms suitability of Daphne Technology's emissions monitoring system  

Factual Statement validates the PureMetrics design for monitoring greenhouse gas emissions from marine engines.

IMO building with national flags. IMO issues shipboard biofuel blend checklist developed by IBIA  

Checklist for FAME-based biofuels formally incorporated into IMO document, supporting crews handling biofuel blends for the first time.

YM Weight naming ceremony. Yang Ming names fourth LNG dual-fuel container vessel YM Weight  

Newbuild features high-pressure dual-fuel main engines capable of running on either LNG or low-sulphur fuel oil.

Bureau Veritas grants AiP to SDARI. Bureau Veritas grants AiP to SDARI’s LNG dual-fuel liquefied CO₂ carrier design  

Classification society approves 85,000-cbm vessel concept designed to support the growing carbon capture and storage sector.

Houston skyline at night. JuWonOil looking to strengthen with two Houston hires  

Texas-based firm is recruiting a marine lubricants sales executive and a marine fuels and distillates trader.

Lloyd's Register (LR), Seapeak, Kongsberg Maritime and Tunable JDP launch. Four firms partner to trial continuous emissions monitoring on LNG carrier  

LR, Seapeak, Kongsberg Maritime and Tunable will test onboard CO₂ monitoring against engine data and default emissions factors.

Bunker Holding logo. Bunker Holding reshuffles commercial leadership across brand portfolio  

Appointments announced across KPI OceanConnect, Glander International Bunkering and its digital sales operations.