Asia’s spot premium for 0.5% very low sulphur fuel oil (VLSFO) hit a five-month high on Friday on firmer bidding and trading.
The spot premium was at $24.23 a tonne to Singapore quotes, up for a ninth consecutive session.
Downstream VLSFO bunker fuel premiums have also edged higher this week, though the uptick still lagged behind the sudden surge in cargo premiums, traders said.
Meanwhile, the 380-cst high sulphur fuel oil (HSFO) market also extended gains on Friday, with the spot premium climbing to $5.05 a tonne to Singapore quotes.
CHINA TRADE DATA
Meanwhile, total fuel oil imports in December surged to 1.8 million tonnes. The increase was led by imports into bonded storage, which includes both high-sulphur and low-sulphur materials, at 1.4 million tonnes.
ARA INVENTORIES
Fuel oil inventories in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub dipped 2% week-on-week to 1.14 million tonnes in the week ended Jan. 19, latest data from Dutch consultancy Insights Global showed.
Source: Hellenic Shipping News
