Singapore bunker prices rose on Thursday, in line with record-high cargo values as the differential to fuel oil improved slightly. Prices for 380-centistoke (cst) bunker fuel were pegged at $309-$311 a tonne, up $9 from the previous trading day and bunker differentials rose to a premium of $1 a tonne, up from a premium of 12.5 cents on Wednesday.
"The market is starting to get tight and several big suppliers have not been offering over the past one or two days. There hasn't been that much demand but those that are around end up having to pay relatively high prices especially for prompt deliveries," a Singapore-based trader said.
"Most offers were around $310-$311-a-tonne levels and that's from the low-end and mid-tier guys. With prices at these high levels, not very much separates them and the big boys anyway."
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