Singapore bunker prices fell on Tuesday, tracking lower 380-cst fuel oil cargo values. Prices for 380-centistoke (cst) bunker fuel were pegged at $246-$248 a tonne, down $1 from the previous day, on moderate demand.
The differential to cargo values remained in the negative but rebounded to $1.25 a tonne below cargo values, up from minus $3.00 on Monday.
"The improving differential is no reflection of the market, which is still very weak. It went up simply because the market was not prepared for a cargo deal to be done at such low levels," a Singapore-based supplier said.
"That said, there are still low-tier suppliers who are selling at discounts of well below $2 a tonne. The lowest priced deals were heard at around $242 a tonne levels and that's a good $6 below cargo values."
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