The spot cash premium for 0.5% very low sulphur fuel oil (VLSFO) rose for a fifth consecutive day on Monday, due to steady bunkering demand, though the market’s refining margin edged lower as consistent supply arrivals capped recovery.
The spot 0.5% VLSFO differential rose to $12.51 a tonne to Singapore quotes on Monday, though the front-month refining margin fell to $11.32 a barrel at the Asia close (0830 GMT).
The front-month Hi-5 spread — the price difference between 0.5% VLSFO and 380-cst HSFO — rose to a six-week high, hitting $217 a tonne, Refinitiv data showed.
Meanwhile, the 380-cst high sulphur fuel oil (HSFO) titled back into a slight premium after dipping into discounted territory last week.
Amid a firmer trade, the 380-cst HSFO cash differential climbed to a premium of $1 a tonne over Singapore quotes.
Source: Hellenic Shipping News
