Singapore bunker prices fell on Wednesday, tracking lower 380-cst fuel oil cargo values. Suppliers pegged 380-cst bunker fuel oil levels at $186-$188 a tonne, down $7 from Tuesday. Prices for the 180-cst grades were unchanged at $196-$198. "Although the value for 380-cst bunkers is around there, not many suppliers are keen to sell because the fall was too drastic. Also, most are waiting for direction from the US DOE and API statistics tonight," a Singapore-based supplier said.
"Most sellers are just offering high at around $192 levels though some deals did go through at around $187-$188 a tonne. But these are few and far between."
The premium of bunker prices to cargo values dropped to $3.75 a tonne, down $1 from Tuesday.
Prices remained high in South Korea, with premiums staying at above $30 a tonne, on tight avails.
"At least two large suppliers oversold last week and are not offering this week. The other two are not keen sellers and are keeping their offers high," said a Seoul-based trader.
"In any case, the market has been quite quiet all week as prices are just too high for shipowners to consider, unless they have no choice."
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