Asia/Pacific News
Bunker Price Gains Continue in Asia
Prices in Asia continued to make gains today today, as Ship & Bunker data showed gains for bunkers across the entire APAC region.
Singapore IFO380 was up $3.00 to $653.00 per metric tonne (pmt) today, meaning the price has only failed to rise on two days over of the last two weeks, and has made a $25.00 pmt gain in that time. Low sulfur 380 cSt product (LS380) moved up $2.50 to $748.00 making the premium for the Emissions Control Area (ECA) compliant fuel $95.00 pmt. MGO climbed $5.50 to $982.50 pmt, up $25.00 since last Thursday.
Busan IFO380 moved up $3.00 to $680.00 pmt, an increase of $9.50 since this time last week, and $22.50 higher than January 7, 2013. LS380 rose $1.50 to $817.00 making the premium for the low sulfur fuel $137.00 pmt. MGO moved up $8.50 to $1018.00 pmt, up $29.00 week-on-week.
Tokyo IFO380 climbed for a seventh consecutive market day gaining $1.50 to $701.00 pmt, a week-on-week increase of $12.00, and up $38.50 since this time last month. MDO rose $7.50 to $1007.00 pmt, $26.00 higher than last Thursday, and up $39.00 month-on-month.
In South Asia, India saw IFO380 rise between $8.00-$10.00 pmt in its ports today, while other grades remained steady.
To round out the day of gains in the region, Auckland saw IFO380 gain $20.00 to $865.00 pmt, and Gladstone IFO was up $11.50 pmt today, putting IFO380 and IFO180 and $757.00 and $787.00 pmt respectively.
