Despite initial signs of the recovery in the region, ample supplies and weak demand continued to weigh on the Asian marine fuel market. Even though the Singapore 0.5%-sulfur marine fuel swaps reached a three-month high of negative-$4.75/mt (70.9￠/bbl) on June 5, the spread widened to negative-$6.75/mt ($1.01/bbl), indicating a slower demand recovery. A Singapore-based fuel supplier reports that demand for marine fuel has dropped compared to the end of May. As a result, Singapore-delivered 10-ppm-sulfur cargo/0.5%-sulfur marine fuel spread was assessed at $32.78/mt June 12 after reaching a six-month high of $35.87/mt earlier on the week on June 9.
展开▼
