Singapore IFO380 Resumes Upward Price Movement

Busan IFO380 fell for a second consecutive day

Singapore IFO380 resumed its upward trend Wednesday, after yesterday's dip of $3.00 per metric tonne (pmt) ended a five market day run of gains. The product was up $2.50 to $650.00 pmt today, up $15.50 week-on-week, and $22.50 higher than this time last month.

Low sulfur 380 cSt product (LS380) in the port moved up $2.50 to $745.50 making the premium for the Emissions Control Area (ECA) compliant fuel $95.50 pmt, while MGO climbed for a seventh consecutive market day rising $4.50 to $977.00 pmt, $26.50 higher than last Wednesday.

Overall, bunker prices across Asia were generally soft on Wednesday however, with Ship & Bunker data showing Tokyo was the only port in East Asia to see IFO380 make gains today. The product was up for a sixth consecutive market day at the port, gaining $2.00 to $699.50 pmt, $12.50 higher than this time last week, and up $37.00 month-on-month. MDO in Tokyo rose $13.00 to $999.50 pmt, making a $22.50 week-on-week gain, and $31.50 higher than January 7, 2013.

Busan IFO380 fell for a second consecutive day slipping $2.00 to $677.00 pmt, up $10.50 week-on-week, and $19.50 higher than January 7, 2013. LS380 moved down $1.50 to $815.50 making the premium for the low sulfur fuel $138.50 pmt. MGO rose for a sixth consecutive market day gaining $1.00 to $1009.50 pmt, $25.50 higher than this time last month.

Hong Kong IFO380 was steady at $663.50 pmt, $12.00 higher than last Wednesday, and up $20.00 month-on-month. MGO in the port climbed for a sixth consecutive market day rising $0.50 to $997.00 pmt, making a $28.00 gain week-on-week, and an increase of $33.50 since January 7, 2013.