View Banners
Hide Banners


Singapore Jan ex-wharf 380 CST bunker term at premiums of $6.50-$7.50/mt, down from December

Singapore ex-wharf 380 CST bunker term contracts for January were concluded at lower premiums than December term contracts, tracking a weaker high sulfur fuel oil market amid ample supply.

January term contracts were concluded at premiums of $6.50-$7.50/mt to the Mean of Platts Singapore 380 CST HSFO assessments, compared with premiums of $12.50-$14.50/mt for December term contracts signed in November.
Cargo tightness had eased over December with more regional supplies coming into Singapore from the Middle East and North Asia, while overall bunker demand was slower at the end of the year, trade sources said this week.

The lower January term premiums were inked near mid-December while premiums in the higher end of the range were signed near end-December, sources said.

While term offers did increase to premiums of $8-$9/mt to MOPS 380 CST HSFO assessments this week, they were met with limited buying interest.

Compared to last month, spot ex-wharf bunker fuel premiums were lower as 380 CST HSFO cash differentials have come off.

Ex-wharf 380 CST bunker fuel premiums had averaged $7.89/mt to the MOPS 380 CST HSFO assessments in December to date, after averaging $16.09/mt in November, S&P Global Platts data showed. Cash differentials for 380 CST HSFO averaged $4.74/mt to the MOPS 380 CST HSFO assessments over December to date, compared with an average of $8.51/mt in November.

Premiums or discounts for physical bunker fuel reflect the price that buyers are willing to pay relative to the published benchmark HSFO values.

Cash differentials for physical fuel oil cargoes represent the price buyers are willing to pay over and above the benchmark HSFO values published around the day a cargo loads.
Source: Platts

Previous Next

Huge Opportunities For Investment in Maritime Sector: Nitin Gadkari

View More Videos

India Dry Bulk Cargo Summit 2019

View All Albums