Bimco has launched an online tool that its members can use to monitor the spread in prices between high- and low-sulphur marine fuel at 32 ports worldwide.
“We have seen significant fluctuations in the market over the past couple of months – fluctuations that can only be explained by the massive uncertainty about the future ," Peter Sand, Bimco's chief shipping market analyst, said in a release on Friday.
Sand said global bunker prices are "currently not operating by market fundamentals".
The interactive tool monitors the price differential between low-sulphur marine gasoil and 380 centistoke high-sulphur fuel oil in different ports around the world.
Bimco first launched the bunker pricing tool in October, but the initial version only covered the spreads between fuel prices at the ports of Singapore and Rotterdam.
The new version of the tool includes prices from a further 30 ports, include Antwerp, Hong Kong, the Panama Canal and Piraeus, among others.
Bimco said the tool aims to help its members in making bunkering decisions before and after 1 January 2020.
"We hope this tool will provide our members with a helping hand, when making decisions about – for example – bunkering ports," Sand said.
Data is supplied to the platform by Marine Bunker Exchange (MABUX).
