Spot fuel oil premiums eased slightly on Friday, while Kuwait’s KPC recently sold high sulphur fuel oil (HSFO) from its Al Zour refinery, said industry sources.
The cargo of 60,000 metric tons is expected to load between Jan. 8 and 9, chartered by Clearlake Shipping, based on shipping records.
The sale of HSFO from Al Zour indicated that the refinery’s atmospheric residue desulphurisation (ARDS) unit may not be functioning fully, said sources. The Al Zour refinery tyspically produces and exports VLSFO.
Meanwhile, fuel oil cash premiums and refining margins in Asia inched lower on Friday amid some spot trading.
Singapore’s cash premium for 0.5% very low sulphur fuel oil MFO05-SIN-DIF eased to $6.09 a metric ton, while cracks LFO05SGDUBCMc1 held stable at premiums of $11.52 a barrel.
On the high-sulphur front, the 380-cst cash premium FO380-SIN-DIF closed at $4.75 a metric ton, while cracks FO380DUBCKMc1 edged lower to discounts of $10.45 a barrel.
Source: Hellenic Shipping News
