Asia/Pacific News
IFO Prices Makes Gains in South Asia
Many bunker markets in East, South East Asia were quiet again today due to public holidays, but in South Asia, Ship & Bunker data showed IFO in Indian ports moved up between $8.00 and $24.00 pmt.
Mumbai IFO380 gained $14.00 to $690.00 per metric tonne (pmt) today for a month-on-month gain of $32.00. MGO in the port was steady at $1120.00 pmt.
Singapore, which had a second consecutive public holiday today, saw no price changes. Key grade IFO380 remained at $662.50, $15.00 higher week-on-week, and up $32.00 compared to January 14, 2013.
Busan IFO380 rose $1.00 to $682.50 pmt, up $3.50 from last Tuesday, and $17.00 higher month-on-month. LS380 was unchanged at $817.50 making the premium for the low sulfur fuel $135.00 pmt. MGO was steady at $1022.50 pmt, $14.00 higher than January 14, 2013.
Tokyo IFO380 moved up for a tenth consecutive market day rising $0.50 to $707.50 pmt, up $10.00 week-on-week, and $23.50 higher than January 14, 2013. MDO dropped $0.50 to $1012.50 pmt, $26.00 higher than this time last week, and up $44.50 month-on-month.
