Asia/Pacific News
Hong Kong Sees Bunker Enquiries Rise up to 20%
Bunker suppliers in Hong Kong have estimated an increase in enquiries of up to 20 percent in the wake of the recent collapse of OW Bunker, Reuters reports.
"My impression is enquiries have gone up 20 percent, though it's hard to put a figure to it," said one Hong Kong bunker seller.
"There were more prompt orders for delivery between five to ten days."
"End-users are those that have had fuel fixed by OW."
Bunker price data from Ship & Bunker showed on Friday IFO380 in Singapore had a premium of $8 per metric tonne (pmt) over Hong Kong.
According to the report, fuel oil in Singapore is currently being priced at around $8 per tonne more on a delivered basis than fuel oil lifted from a terminal, suggesting bunker suppliers are acting more cautiously with regard to counterparty risk.
Recent reports have suggested there has been a tightening of credit lines in Singapore over the last week.
