BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR PRIVACY & COOKIE NOTICE
X

Platts Marine


A closer look at Platts shipping coverage


Home Bunker Fuel Tankers
February 19, 2018

Bunker Fuel

Markets

North Asian Bunkers Commentary

New York (Platts)--02Jan18/0745 pm EST/ 0045 GMT

The North Asian bunker fuel market kicked off the year on firm footing, with traders in Hong Kong and South Korea saying Tuesday that January demand looked healthy. In South Korea, market participants said product fundamentals remained robust, with bunker fuel supplies still leaning towards the lean side even as demand continued to be seen. "South Korea is still tight on bunker fuel," a South Korean source said Tuesday, adding it was heard that one South Korean refiner would not be offering bunker fuel Tuesday due to a lack of availability. "There is lower supply and new cargoes have not arrived yet," the source said, saying it could not be confirmed when resupply volumes would arrive. Demand meanwhile was heard to be firm, with traders saying January delivery volumes looked to be on par, if not better, than December. At the Asian close Friday, 380 CST bunker fuel for delivery in South Korea was assessed at $421/mt, unchanged from Thursday at a three-year high. 380 CST bunker fuel was last assessed higher on December 8, 2014, at $427/mt. Platts reported on December 19 that tight supply and low bunker fuel inventory levels had propelled the market to multi-year highs. In Hong Kong, traders said January delivery volumes for 380 CST bunker fuel were so far seen to be holding steady. "I expect pretty stable demand for January," a trader said Tuesday, adding that volumes looked rangebound from December. In the low sulfur marine gasoil market, traders said a delay in the arrival of replenishment volumes had further tightened the market. Resupply volumes were supposed to have been delivered over the weekend, and it could not be confirmed Tuesday how many days the shipment had been delayed.


Trends

Shanghai 180 CST


Receive end-of-day price assessments at your desktop with Platts Market Data



Tankers




Copyright © 2018 S&P Global Platts, a division of S&P Global. All rights reserved.