Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

St Petersburg bunker fuel prices at historical lows on competition from Rotterdam

Commodities | Energy | Metals | Non-Ferrous | Steel | Raw Materials | Shipping

LME Week 2019

Shipping | Marine Fuels

Platts Bunkerworld

Oil | Refined Products | Fuel Oil | Shipping | Dry Freight | Marine Fuels | Tankers

Middle East Bunker Fuel Conference

LNG | Natural Gas | Shipping | Marine Fuels

South Africa's DNG Energy to start LNG bunkering operations at Algoa Bay from 2020

St Petersburg bunker fuel prices at historical lows on competition from Rotterdam


Bunker prices in the Russian Baltic port of St Petersburg dropped to historical lows Tuesday because of increased competition from Rotterdam.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

With Brent crude futures dropping to multi-year lows during the week and pushing Rotterdam bunker prices lower, suppliers in St Petersburg were quick to respond with lower levels to preserve market share against Rotterdam.

Delivered St Petersburg marine gasoil dropped $14 to $335.50/mt Tuesday. Assessed at parity against Rotterdam, this was the lowest recorded level on St Petersburg MGO since Platts started assessing it on February 1, 2010.

"We face the risk of shipowners switching to Rotterdam with MGO prices now substantially lower there, which pressures us to lower premiums to retain competitiveness," a bunker supplier in St Petersburg said. "It works better for us to preserve our market share and continue fixing higher volumes, instead of hurting the fixing quantities to obtain higher margins."

Meanwhile, delivered St Petersburg 380 CST high sulfur fuel oil dropped $16 to a near 14-year low of $99.50/mt on lackluster demand. This was the lowest since March 19, 2002, when St Petersburg 380 CST HSFO stood at $98.50/mt.

Fixing activity on HSFO in St Petersburg had remained slow as the bearish crude complex made economics less favorable for shipowners, which made supply of the product abundant.

"Previously, when we had a discount of around $80/mt to Rotterdam on HSFO, shipowners used to send multiple vessels to bunker at St Petersburg.

However, with prices now lower in other ports, that practice is less profitable for shipowners, with the number of vessels calling to bunker being very limited," a supplier said.

Delivered Rotterdam 380 CST HSFO stood at $155.50/mt Tuesday, assessed at a premium of $56 to St Petersburg.

This was also the lowest Rotterdam price in almost 11 years, having traded at $154.50/mt on January 12, 2005.

--Sam Hashmi,
--Edited by Jonathan Dart,