Asia’s Low-Sulphur Fuel Oil (VLSFO) rose on Thursday after Singapore inventories dropped to a two-week low.
Cash premiums for VLSFO were up 25 cents at $6.65 a metric ton. Premium for High-Sulphur Fuel Oil (HSFO) on the other hand declined. Cash differential for 180-cst HSFO was pegged at a premium of $8.85 a ton, while premium for 380-cst traded at $7.48 per ton.
Meanwhile, Kuwait Petroleum Corporation (KPC) concluded its term tender offering Low-Sulphur Fuel Oil (LSFO) with Qatar Energy, for loading between July and December this year, trade sources said.
INVENTORIES
Singapore stocks for fuel oil STKRS-SIN fell 7.89% to 19.115 million barrels (3.01 million metric tons), after hitting a three-week high in the week ended May 8, Enterprise Singapore data showed.
Total imports slumped 58% in the absence of Russian arrivals, while arrivals from top importers Malaysia and Brazil were about halved week-on-week.
Source: Hellenic Shipping News
