The spread between VLSFO and 380HFO remains at very low levels. In particular the global average spread is US$72/tonne on 23 March 2020.
On a global basis, MGO, VLSFO and 380HFO decreased by US$6.73/tonne, US$4/tonne and US$2.15/tonne respectively. The largest regional declines were in North Europe, where VLSFO saw a US$22.5/tonne drop, while MGO fell by US$21/tonne.
North America recorded a gain of US$9.5/tonne in 380HFO and US$2/tonne in MGO, while Central America saw a US$2/tonne increase in 380HFO and a US$5/tonne increase in VLSFO.