Spot fuel oil premiums were rangebound on Monday amid a backdrop of largely quiet trade, market sources said, while some Indonesia supply tenders closed.
Indonesia’s Pertamina offered 200,000 barrels of marine fuel oil for loading from Cilacap between Sept. 28 and 29, in a tender that closed on Monday.
It also re-offered 200,000 barrels of V1250 low sulphur waxy residue for loading from Balikpapan between Sept. 30 and Oct. 1, with the tender also closing on Monday.
Beyond this, the market was broadly quiet, with thin spot bids and offers for September loading dates, according to sources.
Singapore cash premium for very low sulphur fuel oil (VLSFO) was pegged below $4 per metric ton, while 380-cst high sulphur fuel oil (HSFO) was little changed at $4.75 per ton.
BUNKER SALES
Marine fuel sales at the United Arab Emirates’ Fujairah recovered to a three-month high in July, latest data showed.
Sales volumes at the world’s third-largest bunkering port, excluding lubricants, totalled 621,679 cubic metres (about 616,000 metric tons), based on Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights.
The bunker sales inched 1.8% higher in July after sliding for three consecutive months, but were down 5.7% from the same month last year.
OTHER NEWS
– Oil prices eased on Monday, with Brent holding below $80 as concern over demand in top oil importer China weighed on market sentiment.
– An oil spill, which appeared to originate from Venezuela’s El Palito refinery several days ago, has contaminated a bay off the country’s north-central coast in the Caribbean Sea, five sources told Reuters.
– Shell Singapore has shut one crude distillation unit and other facilities at its refinery on Bukom island for a scheduled overhaul, three sources close to the matter said on Monday.
– Chinese biodiesel producers are seeking new outlets in Asia for their exports and exploring producing other biofuels as supply to the European Union, their biggest buyer, dries up ahead of anti-dumping tariffs, biofuel executives and analysts said.
WINDOW TRADES O/AS
– 180-cst HSFO: No trade
– 380-cst HSFO: No trade
– 0.5% VLSFO: No trade
Source: Reuters (Reporting by Jeslyn Lerh; Editing by Mrigank Dhaniwala)