Mid Week Bunker Prices Lack Direction in Asia

Port Klang 380 cSt product gained $2.50 today.

Asia bunker price movements were mixed on Wednesday after gains in the region yesterday, with IFO prices steady to soft while distillates generally made gains of around $5.00. Tokyo and Port Klang saw a second consecutive day of rising IFO prices, while Singapore, Hong Kong, and Busan all saw IFO380 move down between $3.00 and $6.50 pmt.

Singapore IFO380 slid $6.00 to $610.00 per metric tonne (pmt) gaining $7.00 week-on-week and down $61.50 pmt compared to this time last month. Low sulfur 380 cSt product (LS380) fell $16.50 to $683.00 pmt down $4.00 from last Wednesday, making today's premium for the low sulfur fuel $73.00. MGO at the port was up $0.50 to $935.00 pmt rising $10.00 week-on-week and down $29.00 from October 22, 2012.

Hong Kong IFO380 moved down for the first time since November 12, 2012 dropping $3.00 to $622.00 pmt, climbing $6.50 from last Wednesday and falling $31.00 over the past month. MGO moved up for a second consecutive day gaining $3.50 to $960.00 pmt moving up $11.50 week-on-week.

Tokyo IFO380 was up $5.50 to $671.50 pmt, down $3.00 over the past two weeks and slipping $27.50 over the past month. MDO rose $6.50 to $956.50 pmt and up $16.50 in the last week, falling $21.50 since October 22, 2012.

Port Klang 380 cSt product gained $2.50 to $623.00 pmt rising $20.00 from last Wednesday and up $17.50 over the previous two weeks, and MGO moved up $5.50 to $962.50 pmt making a $18.00 week-on-week gain.

Busan IFO380 fell for a third consecutive day losing $6.50 to bring the price to $654.50 pmt and down $7.00 week-on-week, while LS380 moved up $9.00 to $805.00 pmt. MGO climbed $5.00 to $962.50 pmt adding $5.00 to last Wednesday's price.