Asia Fuel Oil-Spot premiums post mild gains after Nov bids inch up
SINGAPORE, Oct 21 (Reuters) -Spot premiums for fuel oil climbed on Monday after bids for November cargoes inched higher.
Singapore 380-cst high sulphur cash premium was pegged at $7.25 a metric ton. Meanwhile, cash premium for 0.5% very low sulphur fuel rose to $7.75 a metric ton.
However, the gains were capped amid an uptick in arbitrage supplies to Asia this month, while regional supplies in Asia remained plentiful.
Indonesia's Pertamina offered a cargo of 200,000 barrels of V1250 LSWR fuel for loading between Nov. 16 and 17 from Balikpapan, in a tender that closed on Monday.
Separately, Thailand's PTT offered 35,000 tons of low sulphur fuel for loading between Nov. 16 and 18 from Map Ta Phut, via a tender that also closed on Monday.
SINGAPORE PORT UPDATES
- The Maritime and Port Authority of Singapore (MPA) on Monday said it received an alert about an engine room fire onboard a Malta-flagged tanker, the Med Atlantic, which was anchored in the East Johor Straits within Singapore waters.
- Major energy company Shell and Singapore's MPA deployed clean-up measures after a leak from a land-based pipeline, they said on Sunday.
OTHER NEWS
- Oil prices were broadly steady on Monday, following a more than 7% drop last week on worries about demand in China, the world's top oil importer, and an easing of concerns about potential supply disruptions in the Middle East. O/R
- Saudi Aramco is "fairly bullish" on China's oil demand especially in light of the government's stimulus package which aims to boost growth, the head of the state-owned oil giant said on Monday.
- China's fuel oil imports climbed 6% month-on-month in September, customs data showed on Sunday, as some refiners accelerated their purchases amid expectations of a tax revamp that will raise costs for imported fuel oil.
- Spanish oil major Repsol has put on hold planned green hydrogen projects in Spain with an electrolysis capacity of 350 megawatts due to an unfavourable regulatory environment, a spokesperson told Reuters on Monday.
WINDOW TRADES O/AS
- 180-cst HSFO: One trade
- 380-cst HSFO: No trade
- 0.5% VLSFO: No trade
ASSESSMENTS
FUEL OIL | ||||
CASH ($/T) | ASIA CLOSE | CHANGE | PREV CLOSE | RIC |
Cargo - 0.5% VLSFO | 557.30 | -5.77 | 563.07 | MFO05-SIN |
Diff - 0.5% VLSFO | 7.75 | 0.40 | 7.35 | MFO05-SIN-DIF |
Cargo - 180cst | 451.70 | -5.73 | 457.43 | FO180-SIN |
Diff - 180cst | 8.25 | 0.25 | 8.00 | FO180-SIN-DIF |
Cargo - 380cst | 435.08 | -4.86 | 439.94 | FO380-SIN |
Diff - 380cst | 7.25 | 0.60 | 6.65 | FO380-SIN-DIF |
Bunker (Ex-wharf) Premium - 380cst | 14.00 | 0.50 | 13.50 | |
Bunker (Ex-wharf) Premium - 0.5% VLSFO | 14.00 | 0.50 | 13.50 |
For a list of derivatives prices, please refer to ENSWAP/INFO or the RICs below: | |
180cst M1 | FO180SGSWMc1 |
180cst M1/M2 | FO180SGSDMc1 |
380cst M1 | FO380SGSWMc1 |
380cst M1/M2 | FO380SGSDMc1 |
0.5% VLSFO M1 | LFO05FSGMc1 |
0.5% VLSFO M1/M2 | LFO05FSGSMc1 |
Cracks 180cst-Brent M1 | FO180BRTCKMc1 |
Cracks 180cst-Dubai M1 | FO180SGCKMc1 |
Cracks 380cst-Brent M1 | FO380BRTCKMc1 |
Cracks 380cst-Dubai M1 | FO380DUBCKMc1 |
Cracks 0.5% VLSFO-Brent M1 | LFO05SGBRTCMc1 |
Cracks 0.5% VLSFO-Dubai M1 | LFO05SGDUBCMc1 |
Visco 180cst/380cst M1 | FOVISSGDFMc1 |
Hi-5 0.5% VLSFO/380cst M1 | FO05-380SGMc1 |
GoFo 10PPM/0.5% VLSFO M1 | GO10FO05FSGMc1 |
East-West M1 | FOSGEWMc1 |
Barges M1 | HFOFARAAMc1 |
Barges M1/M2 | HFOFARAASMc1 |
Crack Barges-Brent M1 | HFOFARAACMc1 |
Reporting by Jeslyn Lerh; Editing by Shailesh Kuber
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