Singapore bunker fuel prices rise

Singapore bunker prices rose on Friday, but its differential to fuel oil cargoes plunged into discount after remaining in positive territory for five-straight sessions. Prices for the 380-centistoke (cst) were pegged at $368-370 a tonne, rising $3 from the previous session, but the differential to fuel oil cargoes was at a discount of $1.75, down $1.95 from Thursday.
Suppliers said the bunkers market is unable to sustain the rise in the fuel oil cargo values, which had broken record-highs for nine times in the past one month. "Many ship owners are now waiting till after the week-end to buy supplies, in anticipation that the market will come down," a broker said.