Ample HSFO stockpiles cap upside potential for Singapore’s bunker premiums

High inventories of high sulfur fuel oil at the world’s largest bunker hub of Singapore have pressured delivered premiums, despite the steady downstream demand, according to local traders May 19. The steady HSFO demand in Singapore was not seen translating into stronger profit margins for downstream suppliers, as bunker premiums were rather lackluster as compared to the low sulfur fuel…