SINGAPORE: Asia’s spot cash differential for 0.5% very low sulphur fuel oil (VLSFO) has flipped into a discount on Tuesday, after holding in premiums since July 2021, data showed. The 0.5% VLSFO cash differential was at a discount of $1.25 per tonne to Singapore quotes at the Asia close (0830 GMT), compared with a premium of $1.75 per tonne the previous day.

Asia’s VLSFO market has been under pressure since February, weighed by slow bunkering demand and prospects of strong supplies.

Aggressive selling interest persisted into the first week of April, with trading house Gunvor offering the product at a discount of $1 per tonne on Tuesday, for loading dates in the later half of April.