Singapore ex-wharf 500 CST bunker fuel term contracts for March have been concluded at discounts of around $2/mt to Mean of Platts Singapore 380 CST high sulfur fuel oil assessments, trade sources said this week.
This is slightly higher compared with February term contracts that were concluded at discounts of $2-$2.50/mt to MOPS 380 CST HSFO assessments.
Few suppliers were able to offer the ready grade higher viscosity bunker fuel on a term and spot basis due to tight availability, traders said.
Tight availability of the higher viscosity grade bunker fuel has led to the spread between ex-wharf 380 CST bunker fuel and ex-wharf 500 CST bunker fuel shrinking in February.
The daily spread between ex-wharf 380 CST bunker fuel and ex-wharf 500 CST bunker fuel averaged $2.03/mt in February, down from $3.79/mt in January, S&P Global Platts data showed.
Source: PlattsPrevious Next