Asia’s spot cash differential for 380-cst high sulphur fuel oil (HSFO) extended gains to a second straight session on Tuesday on stronger bidding.
PetroChina bid for 380-cst HSFO at a $2 premium to Singapore quotes for loading dates in the first half of February, while no offer emerged.
There were multiple spot offers for 0.5% very low sulphur fuel oil (VLSFO) amid muted buying interest.
The 380-cst HSFO cash differential (FO380-SIN-DIF) climbed to $2.25 a tonne to Singapore quotes on Tuesday, while the 0.5% VLSFO cash differential (MFO05-SIN-DIF) rose for a sixth session to $13.19 a tonne amid stronger front-month backwardation in the market.
Source: Hellenic Shipping News
