Singapore bunker prices remained unchanged on Thursday despite the sharp drop in cargo levels, as traders continued to hold off offering prompt cargoes on concerns over supply tightness in December.
Prices for 380-centistoke (cst) bunker fuel were pegged at $297-$299 a tonne, steady from the previous trading day, with the bunker premium - the differential between bunker and fuel oil cargo prices - at $14.50, up about $8 from the previous trading day.
"December is tight, and shipowners are going to have to pay a premium to load prompt cargoes," a Singapore bunker trader said.
Tight supply in the region could drive shipowners to regional loading ports in South Korea and Hong Kong where demand has been lacklustre.
"As the Singapore market grapples with tightness, regional markets with healthy avails could see more business," the trader added.
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