Bunker prices are mostly down with Brent in East of Suez ports as the futures contract slumps further, and South Korean suppliers continue to price VLSFO at regional discounts.
Changes on the day to 16.00 SGT (08.00 GMT) today:
- VLSFO prices up in Zhoushan ($4/mt), and down in Singapore ($11/mt) and Fujairah ($5/mt)
- LSMGO prices down in Zhoushan ($19/mt), Singapore ($10/mt) and Fujairah ($6/mt)
- HSFO380 prices up in Fujairah ($4/mt), and down in Singapore ($1/mt) and Zhoushan ($12/mt)
A higher-priced stem has lifted Zhoushan’s VLSFO price to premiums of $9/mt over Singapore, and $13/mt over Fujairah.
Fuel availability has improved in Zhoushan and Shanghai since typhoon In-Fa suspended bunkering in the ports until the beginning of last week. Bunker suppliers have worked through backlogs to bring lead times for VLSFO and LSMGO back down to pre-typhoon levels of 2-3 days.
Lead times for HSFO380 can vary in the Chinese ports, and longer lead times are recommended to ensure timely deliveries.
HSFO380 prices in Singapore and Zhoushan have come down to wider discounts against Fujairah, where the fuel grade is in tight supply and deliveries require around 11 days of lead time. The number of suppliers carrying the grade has been reduced from four to three.
South Korean VLSFO and LSMGO prices have slumped amid ample supplies and heightened competition. Ulsan’s VLSFO price dipped below prices in regional bunkering hubs on 26 July, and is now at discounts of $10-23/mt to Singapore, Fujairah and Zhoushan.