By Srinivas Chowdary Sunkara // petrobazaar // 26th July, 2019.
Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO (Gasoil) moved slightly up yesterday. In Singapore market, 180 cSt and 380 cSt graded fuel oil prices edged $1 up to $472.5 and $442.5 respectively while MGO(gasoil) prices are inched $3 down to $596.5 yesterday. The world oil indexes closed irregularly as the choppy price action expected at the beginning of the week still being played amidst an array of cross currents that prompting seesaw environment, Influenced by current fundamentals exist in the market.
IMO-2020 NEWS AND INSIGHT
Argus Media reported that several ports across Asia are coping with limited availability of High-sulphur fuel oil (HSFO) for bunkers, with price spreads relative to Singapore rising to record highs. The market is massively backwarded with only three to four months left to destock HSFO. The demand for 0.5pc LSFO has in recent weeks picked up in Singapore, especially from large scale operators, with only five months left before the International Maritime Organisations's sulphur cap on marine fuels coming into effect on 1st January, 020.
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