Asia’s very low sulphur fuel oil (VLSFO) market steadied on Thursday after recent declines, while onshore inventories at Singapore rebounded to three-week highs.
Cash premium for 0.5% VLSFO inched higher at $1.81 a metric ton, while October crack rose to a premium of $9.31 a barrel at 0830 GMT.
Meanwhile, the 380-cst high sulphur fuel oil (HSFO) premium slipped to $7.75 a metric ton, while October crack fell to a discount of $10.06 a barrel.
SINGAPORE INVENTORIES
Singapore’s onshore fuel oil stocks were at 20.77 million barrels (3.27 million metric tons), climbing 7% and recovering to three-week highs.
The United Arab Emirates was the top origin for Singapore’s net fuel oil imports, while Hong Kong was the top destination for Singapore’s fuel oil exports.
SINGAPORE BUNKER SALES
Singapore’s bunker sales retreated in August as vessel calls and container throughput fell from July.
Sales eased across all conventional bunker grades, though volumes of bioblended LSFO extended gains to a new monthly record high.
Source: Hellenic Shipping News
