Shipowners are facing huge fuel costs as bunker prices smashed through the $1,000 per tonne barrier for the first time ever.
Driven by surging oil prices due to uncertainty caused by Russia’s war in Ukraine, very low sulphur fuel oil (VLSFO) and marine gasoil both topped this figure on Tuesday.
The highest price quoted by the Marine Bunker Exchange (Mabux) was an eye-watering $1,302.75
