Baltic Exchange: Bunker Report (25 April 2024)

The following bunker report has been provided by freight market information provider Baltic Exchange for post on Singapore bunkering publication Manifold Times:

Commentary:

In the bunker market, prices (VLSFO 0.5%, Singapore) have remained rangebound over the last week, while news flow remains thin and not much change again upon yesterday’s crude close. US demand concerns ahead of US 1Q2024 GDP data overshadowed the substantial drop in EIA’s US crude oil inventories (- 6.4mbbls) data report last week, balancing one another. Today, market participants awaited US GDP figures for an insight into domestic demand which revealed a small rise (+1.6%) in economic activity, well below 2.5% expectations. Reportedly, shots were fired at an MSC vessel by the Houthis but missed, which would have caused prices to spike in former times but this seems to be the unfortunate norm in our new reality. Singapore HSFO tight for large volumes following strong demand in recent days.

Note:

All values are in US$/metric ton, all-in (invoice price), delivered on board
Delivery in 7-10 days
ISO 8217:2010
IFO 380 3.5% Sulphur
IFO 380 0.5% Sulphur
DMA 0.1% Sulphur

Rotterdam – Waalhaven – Maasvlakte range
Houston – Houston Harbor
Singapore – Anchorage, under SBA Scheme
Fujairah – Offshore Anchorage Area

Submitted weekly at Close of Business on Thursdays

Panellists:
Island Oil Limited, Cockett Marine Oil Pte, Monjasa A/S, KPI OceanConnect

Photo credit and source: Baltic Exchange
Published: 26 April, 2024