Prices in East Asia End the Week Down

Busan IFO380 was down $16.50 week-on-week

Week-on-week bunker prices were mostly down in Asia with IFO380 in Singapore falling $10.50 pmt from last Friday, and Busan losing $16.50 over the same period. Today, prices in East Asia were down across the board with IFO380 in Shanghai, Hong Kong, and Tokyo falling for a third consecutive day.

Singapore IFO380 climbed $1.00 to $600.00 per metric tonne (pmt), down $10.50 week-on-week, and falling $20.50 since October 30, 2012. Low sulfur 380 cSt product (LS380) gained $1.50 to $687.50, slipping $6.50 from last Friday, and making the premium for the low sulfur fuel $87.50 pmt. MGO was up $4.00 to $940.00 pmt, putting it at the same price as both last week, and one month ago on October 30, 2012, with a spread of $29.50 in that time.

Busan IFO380 fell for a fifth consecutive market day dropping $3.50 to $639.00 pmt, falling $16.50 week-on-week, and down $15.50 from a month ago. LS380 was down $9.00 to $784.00 to make the premium for the Emissions Control Area (ECA) compliant fuel $145.00 pmt. MGO was steady at  $960.50 pmt, down $2.50 on last Friday's price, and $0.50 below the price two weeks ago.

Hong Kong IFO380 moved down for a third consecutive day slipping $0.50 to $619.00 pmt, down $3.50 compared to last week, and $21.50 lower than October 30, 2012. MGO was up $0.50 to $959.50 pmt, falling $1.00 week-on-week, and $7.00 down from last month.

Tokyo IFO380 was down for a third consecutive day this week falling $8.50 to $656.50 pmt, slipping $14.50 lower than last Friday, and down $32.00 from last month. MDO also moved down for a third consecutive day dropping $2.00 to $951.50 pmt, making a $9.00 week-on-week loss. 

Port Klang IFO380 dropped $3.50 to $606.00 pmt, losing $8.50 from last Friday's price, and down $73.00 compared to the price three months ago. MGO was steady at $957.50 pmt, $6.00 below last week's price, and falling $13.50 from November 16, 2012.