Singapore bunker fuel prices down

Singapore bunker prices fell on Tuesday, tracking plunging fuel oil cargo values as global crude benchmarks came off record-high levels.
However, demand remains muted despite the price fall although there has been some improvement over the previous two days.
Suppliers pegged 380-cst bunker fuel oil levels at $198-$200 a tonne, down $4.00 from Monday. 180-cst prices were at $207-$209.
"Demand has improved but is still poor as shipowners wanted to wait for another day to see if prices for further. Most deals were done below $200 a tonne levels," said a Singapore-based supplier.
"However the market continues to be oversupplied as the impact of the heavy October arrivals begins to be felt. Trades at $198-$199 a tonne means there is actually not much of a premium over cargo prices," he added.
A major sold 600 tonnes of 380-cst, for delivery October 26, at $200.50 a tonne.