Asia/Pacific News
IFO Prices Head Downwards in Asia
IFO bunker prices were headed downwards in Asia today, with Ship & Bunker data showing 380 cSt product falling up to $6.00 per metric tonne (pmt) in the region, and key port Singapore record a second consecutive day of loses for the grade. Distillates, in contrast, were generally steady on Wednesday.
Singapore IFO380 slipped $2.00 to $627.50 pmt, down $0.50 week-on-week, and $23.00 higher than December 24, 2012. Low sulfur 380 cSt product (LS380) slipped $1.50 to $712.50 making the premium for the Emissions Control Area (ECA) compliant fuel $85.00 pmt. MGO fell for the first time since January 17, 2013 slipping $0.50 to $942.50 pmt, $0.50 lower than last Wednesday.
Busan IFO380 dropped $0.50 to $661.00 pmt, losing $4.00 week-on-week, and gaining $27.50 since this time last month. LS380 moved down $28.00 to $804.50 making the premium for the low sulfur fuel $143.50 pmt. MGO in the port moved up for a fourth consecutive market day rising $0.50 to $978.50 pmt, up $2.00 since last Wednesday.
Hong Kong IFO380 moved down $4.00 to $643.00 pmt, the same price as this time last week, and $21.50 higher than December 24, 2012. MGO was steady at $961.50 pmt, down $4.50 week-on-week, and an increase of $6.50 month-on-month.
Tokyo IFO380 dropped $2.50 to $675.50 pmt, down $5.00 since last Wednesday, and an increase of $27.00 since December 24. 2012. MDO in Tokyo was up $2.50 to $966.50 pmt, $0.50 lower week-on-week, and $7.00 higher than this time last month.
