North Asian bunker fuel price falls to near six-year low
Time：2015-01-07
Browse：97
The Hong Kong 380 CST delivered bunker fuel grade was assessed at $294.50/mt, $15.50 lower day on day. The last time it was lower was April 2, 2009, when it was assessed at $285/mt, Platts data showed.
380 CST delivered bunker fuel in Japan was assessed at $346/mt Tuesday, $15 lower day on day. It was last assessed lower on May 1, 2009 at $322/mt.
South Korea 380 CST was assessed at $316.50/mt, down $16 on the day and its lowest since May 1, 2009’s $317.50/mt.
Traders in South Korea said that while bunker prices were lower, importers generally price off an average price of Mean of Platts Singapore 380 CST high sulfur fuel oil and were benefiting from the higher premiums South Korean delivered 380 CST bunker fuel commands due to falling MOPS prices.
Meanwhile, vessel owners were buying bunker fuel closer to arrival times on expectations that bunker prices may continue to fall.