Spot premiums for 380-cst High Sulphur Fuel Oil (HSFO) retreated in Asia on Monday, while Very Low Sulphur Fuel Oil (VLSFO) was little changed amid thin market activity.
The Singapore 380-cst HSFO cash premium fell below $8 a metric ton amid lower-priced offers for July loading dates, while cracks held at discounts of $5.50 to $6 a barrel.
Meanwhile, VLSFO’s cash premium was pegged unchanged at $1 a metric ton, though cracks inched higher to premiums between $9.50 and $10 a barrel.
The market eyed a couple of tenders that were closing this week. Taiwan’s CPC had sought LSFO for September delivery, while Pakistan’s PARCO had offered HSFO for July loading. Both tenders close on Tuesday.
Source: Hellenic Shipping News
