Singapore bunker prices held steady on Tuesday, despite plunging cargo prices, as several bunker suppliers were seen sidelined due to tight supply.
Traders said at least one European major was not offering spot barrels at least until end-October. Most suppliers seen sidelined were concentrating on their term commitments.
Prices for 380-centistoke (cst) bunker fuel were pegged at $311-313 a tonne, $1 below Monday's Asian close.
The 180-cst bunker fuel price eased $4 from Monday's settlement to close at $326-328 a tonne.
"At the moment we are starting to see cargo traders offer into the bunker spot ex-wharf market, but at a $6 or $7 premium, this is high" a bunker trader said.
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