Singapore bunker prices rose on Thursday, but their differential to fuel oil cargo values remained mired in deep discounts for a second straight day. Prices for 380-centistoke (cst) bunker fuel were pegged at $340-$342 a tonne, up $2 from the previous session, but the differential to fuel oil cargoes was at a discount of $3.45, down 20 cents.
"Demand is worse today. I think it's gotten past the point where bunker levels have been disconnected from the surging cargo prices and we won't see any premiums until they come back down," a Singapore-based supplier said.