Asia’s cash differential for 0.5% very low sulphur fuel oil (VLSFO) rebounded on Monday as more spot trade emerged for January-loading cargoes, while backwardation widened slightly.

Reflecting three trades of firmer value, the cash differential firmed by over $4 from the previous session to a premium of $13.59 a tonne to Singapore quotes.

Meanwhile, cash differentials for high sulphur fuel oil (HSFO) also gained on Monday as the market structure also strengthened slightly compared to last week.

The 180-cst HSFO cash differential flipped into a premium of 1 cent to Singapore quotes, compared with a discount of 25 cents on Friday.

The 380-cst HSFO cash differential edged higher by $1.33 to a premium of $1.72 a tonne on Monday, as firmer bids emerged.

Fujairah Bunker Sales

Total volumes, excluding lubricants, were at about 610,000 tonnes in November, according to latest data from the Fujairah Oil Industry Zone published by industry information service S&P Global Commodity Insights. November sales fell by 3% month-on-month and 13% year-on-year.

Agencies

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