Singapore March ex-wharf marine fuel term settles at $6/mt premium
4th March 2021 08:38 GMT

Singapore's ex-wharf term contracts for March-loading 0.5% sulfur marine fuel were heard settled at a premium of around $6/mt to the FOB Singapore Marine Fuel 0.5% cargo assessment, higher than the contract settlements at a $5.50-$6/mt premium for February-loading contracts, sources said.

"Volumes are expected to be higher in March compared to Feb as Feb was a short month," a trader said. 

Buyers typically secure term volumes when spot market levels are on the rise.

Singapore ex-wharf marine fuel 0.5%S spot assessments averaged $431.30/mt in January and $488.05/mt in February, S&P Global Platts data showed.

There has been a shift for ex-wharf marine fuel-term contracts to be offered based on a FOB Singapore Marine Fuel 0.5% cargo assessment instead of the FOB Singapore 10 ppm gasoil assessments since late last year, although a few shipowners still ask for pricing basis gasoil, market sources said.

Bunkerworld .,
4th March 2021 08:38 GMT