Asia/Pacific News
Small Gains for Bunker Prices in Asia
Bunker prices in Asia made small gains on Tuesday, and both Hong Kong and Tokyo saw IFO380 move up for the first time since November 27, 2012.
Singapore IFO380 was steady at $604.50 per metric tonne (pmt), down $9.50 week-on-week, and rising $7.50 from November 5, 2012. Low sulfur 380 cSt product (LS380) moved up $1.50 to $689.00, falling $10.00 from last Tuesday, and making the premium for the low sulfur fuel $84.50 pmt. MGO dropped $3.00 to $945.50 pmt, slipping $2.00 from last week, and dropping $66.00 since September 4, 2012.
Busan IFO380 rose for a second consecutive day climbing $4.00 to $645.00 pmt, down $7.00 week-on-week, and $2.00 lower than the price on November 5, 2012. LS380 gained $13.00 to $798.00 to make the premium for the Emissions Control Area (ECA) compliant fuel $153.00 pmt. MGO moved up $5.00 to $973.00 pmt, $4.00 higher than last Tuesday, and a $13.00 gain on the price a month ago.
Hong Kong IFO380 moved up for the first time since November 27, 2012 rising $0.50 to $618.00 pmt, down $10.50 from last week, and $2.00 higher than the price six months ago. MGO slipped $3.50 to $967.50 pmt, $0.50 below last Tuesday's price, and $17.00 up on last month's price.
Tokyo IFO380 ended four consecutive market days of negative movements and moved up $2.50 to $658.00 pmt, down $11.00 week-on-week, and $8.00 lower than two weeks ago. MDO rose for a second consecutive market day climbing $3.00 to $961.00 pmt, losing $7.00 from last Tuesday's price, but $12.00 up on the price a month ago.
