Singapore bunker prices rose on Friday, driving differentials to its highest levels in over three months as sellers kept offers firm in anticipation of a tighter market next week due to berthing congestion's, traders said.
Prices for 380-centistoke (cst) bunker fuel were pegged at $335-$337 a tonne, up $9 from Thursday's Asian close, with the differential to fuel oil at a premium of $9.75, up $4.90.
"It's the best premium levels we have seen in months. And it could get even higher next week. The problem is most of the mid-tier independents are unable to make the deliveries due to the congestion problem," a Singapore-based bunker supplier said.