Bunker Reaches 2015 Highs on Hurricane-Driven Oil Price Spike — Panjiva
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Bunker Reaches 2015 Highs on Hurricane-Driven Oil Price Spike

Coronavirus 511 Corp - Shipping 1026 Energy - Bunker Fuel 90 Energy - Conventional 468 Energy - Crude Oil 311 Global 1391 Mode - Bulk 139 Mode - Containerized 1524 Mode - Pipeline 33 Mode - Seaborne 1845 Mode - Tanker 187 Theme - Rates 239

Shipping operators face rising fuel costs in the latter part of the third quarter. The crude oil price in U.S. markets has risen 10% since the start of September to the highest since April, and in European markets by 11% to July 2015 levels. That’s the result of reduced demand from U.S. refineries, as well as a variety of technical factors globally. As a consequence bunker fuel costs have reached their highest on a weekly basis since July 2015, and are on average 6% higher in the third quarter than the second. That comes as container rates have declined – shippers either face lower profi...

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