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Wed 9 Mar 2011, 16:09 GMT

Prices plummet in the Med


BIX MED falls for only the second time this month as MGO prices drop $23.30.

The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - plummeted $15.03, or 1.9 percent, today to $777.90 per tonne as bunker prices decreased for only the second time this month following yesterday's fall in the price of crude and ICE gasoil.

Marine gasoil (MGO) prices recorded the most significant declines in the region, dropping $28-$31 in Algeciras, Augusta, Fos, Genoa, Gibraltar, La Spezia and Venice.

As a result, the Bunker Index MGO (BIX MED MGO) - the average price for marine gasoil (high and low sulphur) in the Mediterranean - plummeted $23.30, or 2.4 percent, to US$988.00 per tonne.

The Bunker Index Med 380 CST (BIX MED 380 CST) - the average price for 380-cst in the region - decreased by $10.00, or 1.6 percent, today to $623.50 per tonne from $633.50 per tonne on Tuesday. The Bunker Index Med 180 CST (BIX MED 180 CST) fell by $9.00, or 1.4 percent, to $656.00 per tonne.

For further information regarding regional and global indices published by Bunker Index, please click on the following link below.

http://www.bunkerindex.com/prices/indices.php

MGO  
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Hong Kong flag. Hong Kong launches port dues and vessel registration incentives to boost green fuel bunkering  

Two new schemes offer financial concessions to attract green fuel vessels and grow the Hong Kong fleet.
Mein Schiff Flow vessel. Fincantieri delivers LNG-ready cruise ship Mein Schiff Flow to TUI Cruises  

The 160,000 gross-tonne vessel is the second of two InTUItion-class dual-fuel ships.
Monjasa logo. Monjasa seeks trader for Fredericia-based Northwest Europe desk  

Bunker firm is recruiting a trader to join its Northwest Europe team.
Port of Barcelona and Port of Shanghai signing ceremony. Barcelona and Shanghai sign strategic port cooperation agreement targeting green fuels and digital corridors  

Ports formalise a 'sister ports' relationship covering green shipping, digitalisation and intermodality.
Capital's LNG-powered vessel. Chinese shipbuilder delivers 155,500-dwt LNG dual-fuel crude oil tanker  

Vessel handed over to Capital Ship Management Corp in China.
Glovis Lighthouse vessel. Seaspan takes delivery of first 10,800-ceu dual-fuel LNG car carrier  

Glovis Lighthouse enters service as one of a handful of vessels globally to exceed 10,000 CEU capacity.
Port of Rotterdam, Maersk, Core Power and Lloyd's Register logos. Rotterdam study maps pathway for nuclear-powered commercial ship port calls  

A joint study by Lloyd's Register, the Port of Rotterdam, Core Power and Maersk examines the feasibility of nuclear vessel port calls.
Hakata waterfront. Kinkai Yusen conducts first biofuel demonstration on domestic ro-ro vessel at Hakata Port  

Japanese shipping company to trial B24 biofuel blend aboard the vessel Nanotsu on 16 June.
Norwegian Energy Trading (NET) AS logo. Norwegian Energy Trading renews ISCC certification for biofuel trading  

Norwegian bunker trader says renewal reflects growing biofuel volumes and commitment to verifiable sustainability standards.




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