SINGAPORE: Pakistan State Oil (PSO) is seeking a total of 630,000 tonnes of fuel oil in two grades for January to February delivery, but the offers for the low sulphur grade are at a premium up to $132 a tonne - a 27 percent price hike over a December cargo it had bought.
Gunvor gave the lowest offers for two 55,000-tonne low-sulphur fuel oil (LSFO) cargoes at premiums of $129 and $132 a tonne each to Middle East quotes on a cost-and-freight (C&F) basis.
These were higher compared to a 55,000-tonne cargo PSO bought in late November from Galana Petroleum at premiums of $95 to $97 a tonne.
Separately, PSO was also seeking 520,000 tonnes of high sulphur fuel oil (HSFO) for January-February delivery and
Swiss Singapore, Socar and Bakri had presented the lowest offers for the cargoes lifting from Fujairah port at premiums of $11.36 to $13.86 a tonne to Middle East quotes on a free-on-board (FOB) basis.
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