Cash premiums for fuel oil were rangebound in single-digit premiums in Asia, though a rare trade for 180-cst high sulphur fuel oil (HSFO) emerged on Tuesday.
PetroChina sold 20,000 metric tons of 180-cst HSFO to Trafigura on Tuesday, for loading between Jan. 31 and Feb 4. O/AS
Meanwhile, some spot trading continued to emerge for the other flagship fuel oil grades.
Singapore’s cash premium for 0.5% very low sulphur fuel oil eased further to $2.50 a ton on Tuesday, while front-month cracks held little changed at premiums of $11 a barrel.
Cash premium for 380-cst HSFO FO380-SIN-DIF fell to $5 a ton, though cracks rebounded to discounts of about $10 a barrel.
In tenders, India’s HPCL offered three cargoes of HSFO for loading in end-January and February, while Reliance offered carbon black feedstock for early-February. Both tenders close on Tuesday.
Source: Hellenic Shipping News
