The spot cash differential for 380-cst high sulphur fuel oil (HSFO) slipped into discounts on Friday, as ample supplies continued to weigh on the market.
The 380-cst HSFO differential (FO380-SIN-DIF) fell to a discount of 30 cents to Singapore quotes, after staying in premiums for at least a month, while the 180-cst HSFO differential (FO180-SIN-DIF) was steadily in discounts this week.
In contrast, the 0.5% very low sulphur fuel oil (VLSFO) market rebounded slightly as a firmer bid emerged day-on-day.
The spot 0.5% VLSFO differential (MFO05-SIN-DIF) rose to $10.22 a tonne to Singapore quotes on Friday, while the market’s front-month refining margin (LFO05SGDUBCMc1) also edged higher.
SINGAPORE BUNKER SALES
Bunkering sales of low-sulphur fuel oils (LSFO) were down 8.3% to a total of 30.1 million tonnes, while total high-sulphur fuel oil (HSFO) sales for bunkering were up 6.2% at 13.7 million tonnes.
Bunker sales of biofuel blends totalled about 140,000 tonnes, with over 90 biofuel bunkering operations completed at Singapore, surpassing bunker sales of liquefied natural gas (LNG) which totalled 16,000 tonnes.
ARA INVENTORIES (STK-FO-ARA)
Fuel oil inventories in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose 5% week-on-week to 1.17 million tonnes in the week ended Jan. 12, latest data from Dutch consultancy Insights Global showed.
Source: Hellenic Shipping News
