News / Carriers breathe easier as bunker prices remain low, but shippers are still wary

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The Brent crude oil price is holding steady at around $85 per barrel in trading today, as the markets take a breather from the doom and gloom of the past week when global stocks plunged to their lowest level for over a year on weaker demand prospects for international trade.

Fuel is the single biggest cost for ocean carriers, and its price has declined by 17% since the beginning of the month to around $464 per tonne for Rotterdam-sourced IFO 380, ...