Singapore bunker prices fell on Monday, tracking lower 380-cst fuel oil cargo values. Suppliers pegged 380-cst bunker fuel oil levels at $189-$191 a tonne, down $3 from last Friday. Prices for the 180-cst grades were also lower at $199-$201. "There is very little demand today as most shipowners are holding out for lower prices tomorrow. They believe that the market will continue to fall over the next few days at least," a Singapore-based supplier said.
"Most suppliers are holding offers at relatively high levels of $190-$191 a tonne as the prompt market remains tight and no one wants to take a risk in case the market jumps up tomorrow."
The premium of bunker prices to cargo values was at $5.88 a tonne, up 12.5 cents from Friday.
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