By Srinivas Chowdary Sunkara // petrobazaar // 26th June, 2019.
Fuel oil (F.O) prices are changed a little yesterday. Both the 180 cSt and 380 cSt graded Fuel Oil (F.O) prices are slipped $3 or 0.69% from previous session to $433.5 and $401.5 respectively while MGO prices were $2.5 down in Singapore market. Physical bunker suppliers and barge operators in Singapore are finding difficulty to delivery fuel promptly, with most deliveries scheduled no less than one week forward. Delivered premiums for smaller size volumes can be as high as $15/t. Despite rising premiums, Delivered market is not fully matching the strength in the fuel oil cargo market. Rising summer demand for duel oil in the Middle East amid heightened tensions in the region have seen previous flat prices rise firmly.
IMO 2020 News
The global marine fuel regulation could diminish the price advance for Marine gas oil (MGO) that Panama enjoys over other Latin American countries. IMO 2020 regulation is expected to drive up the demand for 0.1%S diesel, Panama imports solely from the US. The monthly sales grew to 35100 Mt per month in 2018 from 11061 Mt in 2013. This number would slip, If the country sees competition from other countries.
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News courtesy:Argus media