Singapore bunker prices rose on Monday, as fuel oil cargo values broke record-high levels. Prices for 380-cst bunker fuel were pegged at $238-$240 a tonne, up $4 from Friday, with the differential to cargo prices at a slight premium of 37.5 cents. "These prices are absolutely crazy. The bunkers market is covered with red ink.
Suppliers have to buy stocks at high prices but find it hard to sell at even the same levels," a Singapore-based bunker supplier said. "Most suppliers dare not buy any spot ex-wharf cargoes, so they don't have much to sell. And they have a problem selling their term cargoes at parity to cargo levels."
Comments
Comments are closed.