Asia/Pacific News
More Gains for Bunker Prices in Asia
Ship & Bunker data showed bunker prices across Asia continued to rise on Thursday, making it a third day of climbing IFO380 prices in a number of key ports. Both Singapore and Busan saw the grade reach its respective highest price in over three months.
Singapore IFO380 climbed $4.00 to $638.50 per metric tonne (pmt), up $10.50 week-on-week, and $30.00 higher than December 31, 2012. Low sulfur 380 cSt product (LS380) rose $5.50 to $721.00 making the premium for the Emissions Control Area (ECA) compliant fuel $82.50 pmt. MGO climbed $7.00 to $957.50 pmt, the highest price since $964.00 on October 22, 2012.
Busan IFO380 rose $4.00 to $670.50 pmt, the highest price seen since $674.50 on October 18, 2012, and a week-on-week gain of $9.00. LS380 moved up $1.50 to $808.00 making the premium for the Emissions Control Area (ECA) compliant fuel $137.50 pmt. MGO rose $5.00 to $989.00 pmt, up $9.50 since last Thursday.
Hong Kong IFO380 was up $2.50 to $654.00 pmt, the grade's highest price since $657.00 on October 19, 2012, and an increase of $10.00 week-on-week. MGO climbed $8.50 to $977.50 pmt, up $9.50 since last Thursday, and $17.50 higher than December 31, 2012.
Tokyo IFO380 moved up $2.00 to $689.00 pmt, $13.50 higher than this time last week, and an increase of $34.50 month-on-month. MDO climbed $4.00 to $981.00 pmt, up $7.50 week-on-week, and $17.00 higher than December 31, 2012.
