Singapore bunker prices fell on Tuesday, tracking lower 380-cst fuel oil cargo values. Suppliers pegged 380-cst bunker fuel oil levels at $185-$187 a tonne, down $4 from last Friday. Prices for the 180-cst grades were also lower at $196-$198. "Despite the price fall, shipowners are still holding out for lower prices. Demand is moderate as there is a minority of owners who prefer to fix their requirements first," a Singapore-based supplier said.
"However, the overall daily traded volume won't be too large and many suppliers are also holding back. Not many are keen to sell at $185-$186 a tonne levels because their term buying prices are above those levels."
The premium of bunker prices to cargo values was $4.88 a tonne, down $1.00 from Monday.
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