Hong Kong fuel oil bunker premiums tumble due to faltering demand, rising competition

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Low and high sulfur fuel oil bunker premiums have fallen in Hong Kong, as rising competition from regional ports has weakened domestic demand and dampened the near-term market outlook, bunker suppliers said March 2. Demand for LSFO bunker is facing pressure from Chinese ports, where prices are competitive against the same grade in Hong Kong and Singapore, a Hong Kong-based…