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February 20, 2018

Bunker Fuel

Markets

North Asian Bunkers Commentary

New York (Platts)--06Dec17/0745 pm EST/ 0045 GMT

Shanghai bunker fuel demand was heard to be steady mid-week with buyers keeping a close eye on prices. "It was particularly busy yesterday [Tuesday] due to the drop in crude prices ... so most buyers completed their purchases yesterday," a Shanghai-based source said Wednesday, adding that trade activity was expected to be a shade quieter on the day. Still, there were rumblings about a bunker fuel shortage in Shanghai this week, which some sources said was lending support to prices. "A major supplier in Shanghai has sold out of volumes," a source said. Other traders said they had heard one or two suppliers of bunker fuel in Shanghai were lean on volumes, but reasons for the tightness as well as when the next shipments would arrive, could not be confirmed. Officials from the supplier companies concerned could not be contacted Wednesday, but market participants said poor weather could be one of the reasons for the tighter supply. In other news, market participants said Wednesday that major Taiwanese shipping companies Evergreen Line and Wan Hai Lines have settled talks to buy bunker fuel on a term basis for a six-month period beginning January. Term prices could not be confirmed with sources declining comment, but traders said differentials were largely steady from the year before. For the Hong Kong portion of the term, 500 CST bunker fuel was heard done at a discount in the high single digit to Platts Bunkerwire assessments, while 380 CST bunker fuel was settled at a discount of around the mid-single digit.


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Shanghai 180 CST


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