The Asian market for Very Low Sulphur Fuel Oil (VLSFO) experiences a nearly six-month low due to supply pressures and stagnant bunker demand, particularly in Singapore. This downturn is attributed to multiple factors influencing the industry.
Supply Dynamics and Declining Premiums
Ample supply in the East of Suez region, coupled with steady blend components availability and the potential influx of Kuwaiti Al Zour supply, contributes to a decrease in the VLSFO cash premium.
Retreat of High Sulphur Fuel Oil (HSFO) Premiums
Recent bullish bids for High Sulphur Fuel Oil (HSFO) have receded, with cash premiums for the 380-cst grade dipping, reflecting shifting market dynamics and demand patterns.
Tenders and Inventory Insights
Taiwan’s CPC seeks Low Sulphur Fuel Oil (LSFO) in tenders while Fujairah’s fuel oil inventories experience a significant decline, providing a snapshot of ongoing market activities and demand trends.
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Source: XM
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