Asia Bunker Prices Steady to Soft

Hong Kong IFO380 moved down for the first time since November 22, 2012

Bunker prices in Asia moved down in a number of markets today negating yesterday's gains, while others, including Taiwanese ports, were steady to keep an overall flat price picture for the last week. IFO380 in Singapore, Hong Kong, Tokyo, and Busan all lost between $0.50 and $6.00 pmt.

Singapore IFO380 slipped $6.00 to $608.00 per metric tonne (pmt), down $2.00 week-on-week, and losing $66.50 compared to three months ago. Low sulfur 380 cSt product (LS380) dropped $15.50 to $683.50 making the premium for the low sulfur product $75.50 pmt. MGO at the port fell for the first time since November 16, 2012 sliding $5.50 to $942.00 pmt, up $7.00 from last week, and gaining $3.00 on the price of October 29, 2012.

Hong Kong IFO380 moved down for the first time since November 22, 2012 losing $1.50 to $627.00 pmt, rising $5.00 week-on-week, and up $11.50 compared to two weeks ago. MGO in Hong Kong slipped $0.50 to $967.50 pmt, gaining $7.50 from last Wednesday, and $0.50 lower than last month's price.

Tokyo IFO380 slipped $0.50 to $668.50 pmt, falling $3.00 week-on-week, and down $35.50 from three months ago. MDO in Tokyo lost $10.00 to bring the price to $958.00 pmt, up $1.50 compared to last Wednesday, and $18.00 higher than November 14, 2012.

Port Klang 380 cSt product moved up for a second consecutive day rising $1.00 to $616.00 pmt, down $7.00 compared to last Wednesday, and $15.00 below the price a month ago. MGO moved up $5.50 to $961.00 pmt for a week-on-week change of $-1.50, and a two week increase of $16.50.

Busan IFO380 dropped for a third consecutive day falling $5.00 to $647.00 pmt, losing $7.50 since last week, and down $4.50 compared to the previous month. MGO was down for the first time since November 22, 2012 slipping $1.50 to $967.50 pmt, gaining $5.00 week-on-week, and up $1.50 compared to October 29, 2012.