Spot premiums for 380-cst high-sulphur marine fuel at Singapore, the world’s largest bunker hub, have surged due to the tight supply available for prompt deliveries, market sources said, reports marine link.
The price strength for the fuel, which is used to power ships, has been keeping refuelling costs high for vessels calling at Singapore and other ports in the region.
Delivery dates
Delivery dates in the first half of October could command premiums of over $60 a metric ton to Singapore cargo quotes this week, the highest in 2024 so far for a delivered pricing basis, according to data from the market sources.
High-sulphur marine fuel
Steady demand for high-sulphur marine fuel also supported premiums, with Singapore bunker volumes for the grade firming year-on-year, based on port authority data.
September high-sulfur bunker sales were forecast at 1.78 to 1.80 million metric tons, based on LSEG Oil Research, higher than August’s official volume of 1.69 million tons.
Did you Subscribe to our daily newsletter?
It’s Free Click here to Subscribe!
Source: Marine link
