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As arb from NWE slams shut, where will Med utilities get their fuel oil from?

March 08, 2016 (6:34 mins)

The premium of Mediterranean low sulfur fuel oil prices over Northwest Europe tumbled to its narrowest level in 20-months on the back of plummeting freight rates between the two regions.

Platts oil and shipping editors, Beatrice Bedeschi and John Morley discuss the reasons behind the bearish shipping market and the alternatives faced by Mediterranean buyers as NWE flows of LSFO struggle to reach their natural outlet.

Relevant Platts price assessments:
Price Date
Fuel Oil 1%S FOB Med Cargo - FO 1%S FOB NWE Cargo $2.5/mt 03/07/2016
UKC-Med Dirty Handysize freight [basis 30,000 mt] $11.74/mt 03/07/2016

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