World News
Singapore, China Main Destinations For Record Iranian Fuel Oil Exports
Iran exported a record 1.5 million tonnes of fuel oil during the month of Khordad (May 21 to June 20 in the Gregorian calendar), according to the country's FARS news agency.
Mohsen Qamsari, the Head of the international affairs of the National Iranian Oil Company (NIOC), commented that fuel oil exports have grown over the past few months, and the country was now exporting almost 10 million barrels per month.
The cargoes are mostly destined to China and Singapore, he added.
In February Iran had 1.2 million tonnes of fuel oil exports that were split between Singapore and Fujairah, and 760,000 tonnes of fuel oil exports in January.
NIOC is understood to have typically produced about 1 million tonnes of low-density fuel oil each month, including approximately 600,000 tonnes of its straight-run 280 cSt grade from Bandar Mahshahr and 400,000 tonnes of 380 cSt from Bandar Abbas.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 646.50 | 5.50 | 773.50 | 11.50 |
| Rotterdam | 604.00 | 5.00 | 756.00 | 5.00 |
| Houston | 630.50 | 1.00 | 798.50 | 4.00 |
| Fujairah | 650.50 | 3.00 | 897.00 | 13.50 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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