Singapore bunker prices held firm on Tuesday, despite cheaper 380-cst fuel oil cargoes. Suppliers pegged 380-cst bunker fuel oil at $192-$196 a tonne, down $1 from Monday. Prices for the 180-cst grades were unchanged at $201-$203.
"Despite the fall in cargo values, bunker prices remained firm because of short-term supply tightness until November 15. The lowest offer was $194 a tonne and no one is willing to go below that number for prompt deliveries," a Singapore-based supplier said.
"However, for deliveries beyond that date, talking levels are at around $191-$192 a tonne. Demand continues to be healthy as shipowners are taking advantage of relatively lower prices to fix deliveries."
The premium of bunker prices to cargo values inched up to $4.88 a tonne, up 12.5 cents from Monday.