SINGAPORE: SINGAPORE: Cash premiums for fuel oil were little changed in Asia on Wednesday, while latest official data from Singapore’s port authority showed that bunker sales volumes strengthened in May.
There was no trade on the Platts window. The spot 380-cst high sulphur fuel oil (HSFO) market closed at a premium of $2.30 a tonne to Singapore quotes, while very-low sulphur fuel oil (VLSFO) closed at a premium of $7.59 a tonne.
Meanwhile, refining margins trended in the opposite directions. Front-month margin for VLSFO extended gains to a premium of $12.68 a barrel at the Asia close (0830 GMT), after hitting four-month highs in the previous day, while front-month margin for 380-cst HSFO dipped to a discount of $8.90 a barrel. In latest official data, monthly bunker sales at Singapore hit over five-year highs as vessel arrivals spiked amid firm container throughput, official data showed on Wednesday.
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