Asia/Pacific News
IFO Prices Climb in East Asia
Ship & Bunker data showed IFO bunker prices in East and South East Asia continued to climb Monday, as distillate prices were generally steady. Singapore, Busan, and Hong Kong all saw IFO380 move up for a fourth consecutive market day.
Singapore IFO380 climbed $4.50 to $627.50 per metric tonne (pmt), $19.00 higher than last Monday, and $30.00 up from December 7, 2012. Low sulfur 380 cSt product (LS380) remained at $699.50 making the premium for the Emissions Control Area (ECA) compliant fuel $72.00 pmt. MGO was down $2.50 to $937.00 pmt, gaining $3.00 week-on-week.
Busan IFO380 rose $1.50 to $657.50 pmt, making a $12.50 gain on last Monday, and $11.00 higher month-on-month. LS380 rose $3.50 to $796.50 making the premium for the low sulfur fuel $139.00 pmt. MGO dropped $1.00 to $970.00 pmt, rising $4.50 from this time last week.
Hong Kong IFO380 rose $5.50 to $643.50 pmt, opening the week $20.00 higher than last Monday, and $28.50 up from December 7, 2012. MGO moved for a third consecutive market day climbing $0.50 to $963.50 pmt, making a $3.50 increase week-on-week.
Tokyo IFO380 moved up for a third consecutive market day gaining $5.00 to $662.50 pmt, a gain of $8.00 from last Monday, and $13.00 higher than December 7, 2012. MDO climbed $8.00 to $968.00 pmt, making a $4.00 increase week-on-week, and $16.00 up month-on-month.
