Asia/Pacific News
Prices Climb on a Quiet Day of Trading in Asia
Bunker prices climbed in what was a quiet day of trading today for many Asian markets, with some countries including Singapore having a public holiday today.
Singapore IFO380 gained $4.00 to $604.50 per metric tonne (pmt) making it a second consecutive day of rising prices, and a gain of $3.50 since last Friday. MGO gained $1.50 to $928.50 pmt for a week-on-week gain of just $6.50.
Hong Kong IFO380 made an upward movement for only the second time since October 16, 2012, today gaining $4.50 to $611.50 pmt, narrowing the one month change to $-48.00. MGO was up $1.00 to 949.00 pmt.
Tokyo bunker prices saw gains across the board with IFO380 up $5.00 to $667.50, IFO180 up $4.00 to $678.00, and MDO up $6.00 to $946.00.
Port Klang and Shanghai both saw 380 cSt product end two consecutive market days of downward price movement with a double digit gain, and prices moving up $10.00 to $603.00 and $11.00 to $928.50 pmt respectively.
