Asia’s spot market for Very Low Sulphur Fuel Oil (VLSFO) dipped on Tuesday after a flurry of spot trades emerged.
Trafigura bought six VLSFO cargoes on the spot market window on Tuesday, based on industry sources.
Singapore’s VLSFO cash premium pegged at $3.65 a metric ton, easing from the previous day, though front-month cracks for VLSFO inched higher to premiums of about $9.50 a barrel after crude prices slumped in Asia trade.
Meanwhile, the 380-cst High Sulphur Fuel Oil (HSFO) market retained its strength, with cash premiums rallying higher as firmer bids continued to emerge.
Cracks for 380-cst HSFO were pegged at a discount of about $4 a barrel, holding broadly steady from last week. The market has extended gains on expectations of tight supply into the first half of June, industry sources said.
Source: Hellenic Shipping News
