Asia/Pacific News
Singapore Ends Run of Rising Bunker Prices
Bunker prices in Singapore today ended a run of gains that started one week ago, Ship & Bunker data has shown. The indicative price for benchmark grade IFO380 in the port moved down for the first time since January 28, 2013 falling $3.00 to $647.50 per metric tonne (pmt), to make put the week-on-week gain at $17.50.
MGO at the port, however, continued to make gains and moved up $1.00 to $972.50 pmt, $28.50 higher than last Tuesday. Low sulfur 380 cSt product (LS380) also rose, up $3.00 to $743.00 making the premium for the Emissions Control Area (ECA) compliant fuel $95.50 pmt.
Elsewhere in the region, with the exception of Busan, East Asia prices made gains today, while in South Asia Indian ports saw IFO fall between $4.00 and $8.00 pmt.
Busan IFO380 fell for the first time since January 28, 2013 dropping $1.00 to $679.00 pmt, $15.00 higher than this time last week, and up $21.50 month-on-month. LS380 was up $1.00 to $817.00 making the premium for the low sulfur product $138.00 pmt. MGO climbed $9.00 to $1008.50 pmt, an increase of $30.00 since January 7, 2013.
Hong Kong IFO380 moved up for a sixth consecutive market day rising $1.50 to $663.50 pmt, an increase of $16.50 week-on-week, and $20.00 higher than this time last month. MGO in Hong Kong moved up $5.50 to $996.50 pmt, $28.50 higher than this time last week, and up $33.00 since January 7, 2013.
Tokyo IFO380 climbed for a fifth consecutive market day rising $3.00 to $697.50 pmt, an increase of $13.50 since last Tuesday, and $35.00 higher month-on-month. MDO moved down for the first time since January 28, 2013 slipping $2.50 to $986.50 pmt, up $11.50 week-on-week, and $18.50 higher than this time last month.
