Singapore bunker prices rose on Tuesday, tracking higher fuel oil cargo values. Bunker fuel oil of 380-centistoke (cst) grade was pegged at $214-$216 a tonne, up $1 from Monday, maintaining the differential to cargo levels at a premium of $3.63, unchanged from the previous trading day. "The market remains tight but the problem is restricted mainly to the independents. The majors are still selling as per normal," a Singapore-based trader said.
"And they are squeezing those with prompt demand at high prices of around $215-$216 a tonne. Some independents were still selling at $212-$213 a tonne levels."