Asia’s 0.5% very low sulphur fuel oil (VLSFO) market was little changed amid thin trade on Wednesday, while bunker premiums trended steady to lower in recent sessions, market sources said.
Cash premiums for 0.5% VLSFO closed at $11.25 a metric ton, while refining cracks dipped slightly to premiums of $11.14 a barrel.
Meanwhile, bunker premiums for 0.5% VLSFO held at about $40 a metric ton this week, though traders said levels have eased as supplies are expected to recover more in the second half of December.
On the high-sulphur front, there was some volatility in recent trading sessions amid some spot trading activity.
The cash differential for 180-cst HSFO slipped into a discount on Wednesday. In contrast, spot 380-cst HSFO flipped from a discount to a premium.
The refining margin for 380-cst HSFO fell, with cracks slipping to discounts of $10.87 a barrel on Wednesday.
Source: Hellenic Shipping News
