Singapore bio premium narrows towards $100/mt. Rotterdam bio premium steady at around $180/mt, reports Engine.
Singapore
Singapore’s B24-VLSFO price has gained on the back of a $27/mt jump in the underlying ENGINE conventional VLSFO price. VLSFO has gone up sharply despite a $1.22/bbl drop in front-month Brent crude values, and instead been driven higher by tight VLSFO availability.
For the bio component of the B24-VLSFO blend meanwhile, PRIMA Market’s underlying UCOME FOB China price has held steady at $960/mt. The freight rate from China to Singapore for an MR tanker has come off by $1.75/mt.
The bio premium has gone down. B24-VLSFO is now priced $106/mt over pure VLSFO, down from $113/mt a week ago.
Rotterdam
Rotterdam’s B30-VLSFO HBE bunker price has made a solid gain of $13/mt on the week, supported by increases for both POMEME biofuel and conventional VLSFO.
“This demonstrates a gathering momentum as the market steadily approaches the levels observed in April,” PRIMA commented.
Rotterdam’s B24-VLSFO premium over pure VLSFO has kept roughly steady on the week, at $181/mt.
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Source: Engine
