SINGAPORE, May 9 (Reuters) - Asia cash premiums for the benchmark
180-centistoke (cst) grade remained supported over $5 a tonne, even as concerns
over supply tightness in June eased slightly as the trading cycle moved out of
the first half of the forward month.
The 180-cst physical differential was valued at $5.08 a tonne, down 18 cents
from the previous session, but still remained a little over $2 from levels seen
at the end of April.
"The market is still seeing tightness for June, but as the focus shifts
towards the second half of the month, we are likely to see some improvement in
supplies," a Singapore-based trader said.
"Besides having spillover from May into early June, a large chunk of the
arrivals from the West into Asia are scheduled to come towards the second half
of June."
Around 5.6 million to 5.7 million tonnes of fuel oil is expected to arrive
in Asia from the West this month, while June arrivals have been forecast at
around 4 million tonnes.
June arrivals will be lower than the monthly average supply flows from the
West which are around 4.75 million tonnes, or about 18-19 percent lower.
* CASH DEALS: 5 trades
- European trader Gunvor sold 100,000 tonnes of 180-cst in over-the-counter
(OTC) trade at a premium of $4.50 a tonne. Loading dates ranged from May 24
through June 8. Buyers included Mercuria and Glencore, buying 40,000 tonnes and
60,000 tonnes respectively.
FUEL OIL
CASH ($/T) ASIA CLOSE Change % Change Prev
Close
Cargo - 180cst 622.94 -2.80 -0.45 625.74
Diff - 180cst 5.08 -0.18 -3.42 5.26
Cargo - 380cst 613.04 -3.16 -0.51 616.20
Diff - 380cst 3.52 -0.40 -10.20 3.92
Bunker 619.50 0.00 0.00 619.50
(Ex-wharf)-
380cst
Bunker (Ex-wharf) 6.46 3.16 95.76 3.30
Premium
SWAPS ($/T) ASIA CLOSE Change % Change Prev
(0830 GMT) Close
Brent M1 103.77 -0.57 -0.55 104.34
180cst M1 623.63 1.13 0.18 622.50
180cst M1/M2 4.75 -0.25 -5.00 5.00
180cst M2 618.88 1.38 0.22 617.50
Visco M1 8.50 -0.38 -4.28 8.88
Visco M2 7.00 -0.13 -1.82 7.13
380cst M1 615.13 1.50 0.24 613.63
380cst M1/M2 3.25 0.00 0.00 3.25
380cst M2 611.88 1.50 0.25 610.38
Cracks 180-Dubai -6.13 0.01 -0.16 -6.14
M1
Cracks 180-Dubai -6.00 -0.04 0.67 -5.96
M2
East-West M1 32.50 -0.75 -2.26 33.25
East-West M2 30.25 -0.25 -0.82 30.50
Barges M1 591.13 1.88 0.32 589.25
Barges M1/M2 2.50 0.25 11.11 2.25
Barges M2 588.63 1.63 0.28 587.00
Crack -13.89 0.14 -1.00 -14.03
Barges-Brent M1
Crack -13.91 0.07 -0.50 -13.98
Barges-Brent M2
(Reporting by Luke Pachymuthu; Editing by Clarence Fernandez)
