Asia’s spot cash premiums and refining margins for 0.5% very low sulphur fuel oil (VLSFO) ended at a month’s low on Friday, weighed by persistent supply inflows and tepid bunkering demand.
The spot 0.5% VLSFO cash differential (MFO05-SIN-DIF) edged lower to a premium of $11.70 a tonne.
The front-month crack (LFO05SGDUBCMc1) was at a premium of $9.10 a barrel at Friday’s Asia close (0830 GMT).
Meanwhile, margins for 380-cst high sulphur fuel oil (HSFO) (FO380DUBCKMc1) rebounded slightly this week, closing at a discount of $17.63 a barrel at the Asia close.
FUJAIRAH BUNKER SALES
Marine fuel sales at the world’s third-largest bunkering hub of Fujairah in the United Arab Emirates fell to 11-month lows in January, latest Fujairah Oil Industry Zone data showed.
Total bunkering volumes, excluding lubricants, were at 633,023 cubic metres (about 627,000 tonnes) in January, based on data from the Fujairah Oil Industry Zone published by industry information service S&P Global Commodity Insights.
ARA INVENTORIES (STK-FO-ARA)
Fuel oil inventories in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub slipped to two-month lows of 1.08 million tonnes in the week ended Feb. 16, latest data from Dutch consultancy Insights Global showed.
OTHER NEWS
WINDOW TRADES
– 180-cst HSFO: No trade
– 380-cst HSFO: One trade
– 0.5% VLSFO: No trade
Source: Hellenic Shipping News
