EnShipping companies’ costs may fall as bunker fuel rates dropped to their lowest since September last week. Oil price declines, driven by the impact of Gulf-states’ tensions regarding Qatar, and resulting worries about OPEC discipline, appear to be the driver. Longer-term switching to cleaner fuels may lead to further falls in bunker prices. LNG has come into focus after Engie took delivery of an LNG bunkering vessel recently. The Qatar dispute’s impact on container rates has been minimal. China-to-Persian Gulf rates rose 4% so far this month vs. 1% for global rates.
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