Asia’s fuel oil markets were broadly steady on Wednesday after inventories rose at the Fujairah commercial hub.
Cash premiums for VLSFO were up 25 cents at $6.40 a metric ton. Singapore’s cash premium for 180-cst HSFO was pegged at a premium of $9.35 a ton.
Meanwhile, Singapore’s marine bunker sales declined for a fourth consecutive month in April, official data showed late on Tuesday. April sales totalled 4.24 million metric tons at the world’s largest ship refuelling hub, down 4.7% from March, according to data from Singapore’s Maritime and Port Authority.
Monthly sales posted an annual decline for the first time in four months, a sign geopolitical shipping tensions have started to ease compared to the start of the year.
Source: Hellenic Shipping News
