Spot premiums for 380-cst high sulphur fuel oil (HSFO) declined in Asia on Monday, influenced by subdued market activity. Conversely, very low sulphur fuel oil (VLSFO) saw minimal movement.
The cash premium for Singapore’s 380-cst HSFO dropped below $8 per metric ton due to competitive pricing for July loading dates. At the same time, cracks for FO380DUBCKMc1 remained in negative territory, ranging from $5.50 to $6 per barrel.
In contrast, VLSFO maintained a stable cash premium of $1 per metric ton, while cracks for LFO05SGDUBCMc1 edged upwards to premiums between $9.50 and $10 per barrel.
Market attention focused on upcoming tenders closing this week. Taiwan’s CPC sought LSFO for September delivery, while Pakistan’s PARCO offered HSFO for July loading, with both tenders concluding on Tuesday.
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