Singapore bunker fuel prices rise

Singapore bunker prices rose on Thursday, tracking record-high fuel oil cargo values.
However, demand remained muted as shipowners were put off by high offer levels.
Suppliers pegged 380-cst bunker fuel oil levels at $204-$206 a tonne, up $2-$3 from the previous day. 180-cst prices were at $213-$215.
"Sellers are trying to keep their offer levels at least above the 380-cst cargo value and not sell at a discount. But most of them were unable to do deals at those levels, given the scant volume of enquiries," said a Singapore-based supplier.
"The bunkers market has been in discount for well over a week with the heavy volumes of 380-cst cargoes in the market. It doesn't look like there is going to be any improvement at least until late November," he added.