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Bunkerwire
Volume 48 / Issue 67 / April 4, 2024

Marine fuel 0.5% bunker ($/mt) Marine Fuel (PGB page 30)
Asia Pacific/Middle East Europe Americas $/mt Change
Delivered Mid Change Delivered Mid Change Delivered Mid Change 0.5% FOB Singapore cargo AMFSA00 627.280 -3.770
Singapore MFSPD00 640.000 -5.000 Algeciras MFAGD00 645.000 -5.000 Houston MFHOD00 664.000 -6.000 0.5% FOB Fujairah cargo AMFFA00 630.950 -2.910
Fujairah MFFJD00 642.000 -3.000 Durban MFDBD00 785.000 -10.000 New York MFNYD00 665.000 -5.000 0.5% FOB Rotterdam barge PUMFD00 598.750 -3.500
Japan MFJPD00 678.000 -2.000 Gibraltar MFGBD00 645.000 -5.000 Los Angeles MFLAD00 710.000 +20.000 0.5% FOB US Gulf Coast barge AUGMB00 626.500 +7.500
South Korea MFSKD00 666.750 +8.250 Malta MFMLD00 648.000 -2.000 New Orleans MFNOD00 690.000 -6.000 0.5% Dlvd US Atlantic Coast barge AUAMB00 641.000 +7.500
South Korea (West) WKMFA00 670.000 +9.000 Piraeus MFPRD00 705.000 +5.000 Philadelphia MFPAD00 667.000 -9.000 0.5% FOB Mediterranean cargo MFFMM00 605.000 -1.250
Hong Kong MFHKD00 649.000 -20.000 Rotterdam MFRDD00 604.000 0.000 Seattle MFSED00 735.000 -1.000 0.5% CIF Mediterranean cargo MFCMM00 616.250 -1.750
Shanghai MFSHD00 638.000 -2.000 Antwerp MFDAN00 604.000 0.000 Vancouver MFVAD00 746.500 -1.000 $/barrel
Zhoushan MFZSD00 635.000 0.000 Gothenburg MFDGT00 645.000 -5.000 Buenos Aires MFBAD00 719.000 +2.000 0.5% FOB US Gulf Coast barge AUGMA00 98.660 +1.180
Sydney MFDSY00 935.000 -4.000 Hamburg MFDHB00 623.000 -2.000 Cartagena MFCRD00 709.000 +2.000 0.5% Dlvd US Atlantic Coast barge AUAMA00 100.940 +1.180
Melbourne MFDMB00 945.000 -4.000 Istanbul MFDIS00 705.000 +10.000 Santos MFSAD00 676.000 +2.000 vs FO 380 MOPS strip
Kuwait MFDKW00 642.000 -3.000 Las Palmas MFDLP00 655.000 -2.000 Valparaiso AMFVA00 980.000 +5.000 $/mt Change
Khor Fakkan MFDKF00 642.000 -3.000 Novorossiisk MFDNV00 540.000 0.000 Callao AMFCA00 785.000 +1.000 0.5% FOB Singapore cargo AMOPA00 143.990 -3.230
Mumbai MFDMM00 690.000 -9.000 St. Petersburg MFDPT00 572.000 0.000 Guayaquil AMFGY00 775.000 +16.000
Colombo MFDCL00 704.000 -1.000 Lisbon MFLIS00 658.000 +4.000 La Libertad AMFLB00 774.000 +16.000
Lome
Algoa Bay
MFLOM00
MFALG00
880.000
727.000
+10.000
-2.000
Montevideo
San Francisco
AMFMT00
AMFSF00
776.000
720.000
+1.000
+20.000
Marine Fuel Price By Calorific Value
Montreal* AMFMO00 755.000 +4.000 $/GJ Change
0.5% FO Singapore delivered CVMFS00 15.610 -0.122
Ex-Wharf Ex-Wharf
LNG Bunkers Singapore CVLNS00 11.986 +0.077
Singapore MFSPE00 630.000 -5.000 Augusta MFAUG00 690.000 -10.000 Houston MFHOE00 649.000 -6.000
0.1% MGO Singapore delivered CVMGS00 18.106 +0.011
Fujairah MFFJE00 636.000 -3.000 Genoa MFGEN00 655.000 -5.000 New York MFNYE00 650.000 -5.000
Methanol Bunkers Singapore CVMLS00 18.372 0.000
Zhoushan MFZHN00 631.000 0.000 Balboa MFBAE00 667.000 +1.000
0.5% FO Rotterdam delivered CVMFR00 14.732 0.000
Cristobal ACBAL00 670.000 +1.000
LNG Bunkers Rotterdam CVLNR00 9.928 +0.134
Panama Canal APNMA00 667.000 +1.000 0.1% MGO Rotterdam delivered CVMGR00 18.173 -0.067
New Orleans MFNOE00 673.000 -6.000 Methanol Bunkers Rotterdam CVMLR00 15.993 +0.038
Philadelphia MFPAE00 655.000 -9.000
Seattle MFSEE00 721.000 -1.000
Vancouver MFVAE00 731.000 -1.000
San Francisco AMFSN00 708.000 +20.000
Montreal AMFMN00 735.000 +4.000
Contents
*Delivered by truck. Alternative marine fuels................................................ 2
Marine Fuel 0.5% Derivatives, Apr 4 Arab Gulf ($/mt) (PGB page 2850). ..................................... 2
Balance* Change Month 1 Change Month 2 Change East Asia ($/mt) (PGB page 2850). ..................................... 2
Apr May Jun Northern Europe ($/mt) (PGB page 1850 & 1870). ...................... 3
$/mt $/mt $/mt
Mediterranean, Black Sea and Africa ($/mt) (PGB page 1860). ......... 3
0.5% FOB Singapore cargo FOFS000 627.800 -3.900 FOFS001 627.500 -3.500 FOFS002 625.000 -2.450
0.5% FOB Fujairah cargo FOFF000 631.250 -2.750 FOFF001 630.750 -3.000 FOFF002 629.750 -2.000 US and Canada ($/mt)................................................. 4
0.5% FOB Rotterdam barge AMRAB00 598.500 -1.750 AMRAM01 591.500 -1.250 AMRAM02 585.500 -1.000 South America ($/mt) (PGB page 870).................................. 5
0.5% vs. 3.5% FOB Rotterdam barge AMRBB00 122.750 -2.250 AMRBM01 109.750 -2.000 AMRBM02 100.000 -1.500
Posted Prices ($/mt). .................................................. 5
$/barrel $/barrel $/barrel
0.5% FOB US Gulf Coast barge AMARB00 97.950 +1.200 AMARM01 97.050 +1.200 AMARM02 96.150 +1.150 Cargo prices ($/mt) (PGB page 1890)................................... 5
0.5% vs US Gulf Coast HSFO barge AUSBB00 23.750 -0.750 AUSBM01 21.650 -0.550 AUSBM02 20.100 -0.450 Platts Container Rates and Bunker Charges. .......................... 6
*Balance month swaps are assessed from the 1st through the 20th of the month; Asia swaps are assessed through the 14th of February. Platts bunker charges, April 4 ($/FEU*). ............................... 6

www.spglobal.com/commodityinsights
Bunkerwire April 4, 2024

Alternative marine fuels

$/MMBtu $/mt (LNG)
LNG Bunker Fuel Singapore LNBSG00 12.646 LNBSF00 657.592
LNG Bunker East China LNBCA00 12.746 LNBCB00 662.792
LNG Bunker Fuel US SE Coast LNGCA00 10.164 LNGCL00 528.541
LNG Bunker Fuel Rotterdam LNBRD00 10.475 LNBRF00 544.700
LNG Bunker Fuel Barcelona LNBBA00 10.635 LNBBB00 553.020
$/mt $/mt (Oil) $/mt (LNG)
Methanol Bunker Fuel Singapore MLBSG00 395.000 MLBSO00 753.256 MLBSL00 955.349
Methanol Bunker Fuel Rotterdam MLBRT00 343.860 MLBRO00 655.733 MLBRL00 831.661
Methanol Bunker Fuel Houston MLBHT00 350.000 MLBHO00 667.442 MLBHL00 846.512
Bio-Bunkers B24 Singapore ABUNA00 793.600
Bio-Bunkers B30 Rotterdam UCOME ABKRA00 851.250
Bio-Bunkers B30 Rotterdam FAME 0 ABKRB00 813.500
MMBtu to $/mt (LNG) factor: 52.000.

Arab Gulf ($/mt) (PGB page 2850)

IFO 380 CST mid change Marine gasoil 0.5% mid change Marine gasoil 0.1% mid change
Delivered
Kuwait AAXCV00 887.50–888.50 888.000 -2.000 MGDKW00 893.00 -2.000
Fujairah PUAXP00 479.50–480.50 480.000 0.000 AARKH00 887.50–888.50 888.000 -2.000 AAXYP00 893.00 -2.000
Khor Fakkan AARKI00 887.50–888.50 888.000 -2.000 MGDKF00 893.00 -2.000
Mumbai AASSI00 1189.50–1190.50 1190.000 -12.000 MGDMM00 1195.00 -12.000
Colombo AARKK00 884.50–885.50 885.000 0.000 MGDCL00 890.00 0.000
Ex–wharf
Fujairah AAYBF00 474.000 0.000

East Asia ($/mt) (PGB page 2850)

IFO 380 CST mid change Marine gasoil 0.5% mid change Marine gasoil 0.1% mid change
Delivered
Singapore PUAFT00 498.50–499.50 499.000 0.000 AALMZ00 803.50–804.50 804.000 +1.000 AAXYO00 809.00 +0.500
Japan PUAEV00 560.50–561.50 561.000 -1.000
West Japan AARJZ00 567.50–568.50 568.000 -1.000
South Korea PUAFR00 519.50-520.50 520.000 0.000 AAVBN00 827.25-828.25 827.750 -2.750 AAXYS00 828.00 -2.750
Busan PUAGQ00 519.50–520.50 520.000 0.000 AARKJ00 827.25–828.25 827.750 -2.750
Hong Kong PUAER00 502.50–503.50 503.000 -2.000 AAXYQ00 799.00 -26.000
Shanghai AARKD00 498.50–499.50 499.000 -1.000 AARKE00 847.50–848.50 848.000 0.000 AAXYR00 858.00 0.000
Zhoushan BFDZA00 495.000 0.000 MGZSD00 823.000 +1.000
Sydney AARKF00 1021.50–1022.50 1022.000 +1.000 MGDSY00 1027.000 +1.000
Melbourne AARKG00 1037.50–1038.50 1038.000 +1.000 MGDMB00 1043.000 +1.000
Marine diesel 0.5% mid change Marine diesel 0.1% mid change IFO 500 CST mid change
Delivered
Singapore AAVUO00 493.50–494.50 494.000 0.000
Japan POACI00 879.50–880.50 880.000 0.000 AAXYT00 890.00 0.000
West Japan AARKA00 894.50–895.50 895.000 0.000 AAXYU00 905.00 0.000
Ex–wharf
IFO 380 CST IFO 500 CST
Singapore AAFER00 483.50–484.50 484.000 0.000 AAVUP00 478.50–479.50 479.000 0.000

© 2024 by S&P Global Inc. All rights reserved. 2

Bunkerwire April 4, 2024

Market Commentary Northern Europe ($/mt) (PGB page 1850 & 1870)
IFO 380 CST mid change Marine gasoil 0.1% mid change

Platts Asia and Middle East Delivered

Rotterdam 477.50–478.50 478.000 +2.000 811.50–812.50 812.000 -3.000
Bunker Daily Commentary
PUAFN00 AARTG00
Antwerp PUAEE00 477.50–478.50 478.000 +2.000 AARSI00 811.50–812.50 812.000 -3.000
Dunkirk PUAEL00 539.50–540.50 540.000 +2.000 POABT00 940.50–941.50 941.000 -3.000
„ Demand in Fujairah strengthens Hamburg PUAEQ00 541.50–542.50 542.000 -3.000 AARSZ00 869.50–870.50 870.000 0.000
Gothenburg 579.50–580.50 580.000 0.000 877.50–878.50 878.000 -2.000
„ Thin trading activity in Singapore AAVVX00 AAVWC00
Gdansk AARSP00 880.50–881.50 881.000 -2.000
St Petersburg AAHSU00 479.50–480.50 480.000 0.000 AARTJ00 721.50–722.50 722.000 0.000
Bunker fuel fundamentals weakened April 4 amid IFO 500 CST LS 0.1% Bunker
Rotterdam AAXRM00 473.50–474.50 474.000 +2.000
ample upstream cargoes in Singapore. The sluggish
Rotterdam LS 0.1% AARBF00 727.000 -3.000
demand continued to weather down low sulfur St Petersburg LS 0.1% ALMPA00 622.000 0.000
bunkering premiums at the port, with pessimism set
to prevail for the rest of the trading week, said market
sources.
The adequate upstream LSFO cargo availabilities
around Singapore also meant that some sellers have Mediterranean, Black Sea and Africa ($/mt) (PGB page 1860)
mostly been lowering offers to capture the limited flow IFO 380 CST mid change Marine gasoil 0.1% mid change
of inquiries, bunker suppliers said. Delivered
“Offer prices for April-delivered cargoes are lower Gibraltar AAKAB00 569.50–570.50 570.000 -10.000 AARSU00 879.50–880.50 880.000 -5.000
Algeciras PUAFA00 569.50–570.50 570.000 -10.000 AARSH00 879.50–880.50 880.000 -5.000
on day and there are not many inquiries,” said a local Las Palmas/Tenerife PUAFB00 579.50–580.50 580.000 -10.000 AARTB00 889.50–890.50 890.000 0.000
supplier. Canary Islands PUAGW00 579.50–580.50 580.000 -10.000 AARKM00 889.50–890.50 890.000 0.000
The Platts benchmark FOB Singapore Marine Fuel Malta PUBFH00 574.50–575.50 575.000 0.000 PBADH00 872.50–873.50 873.000 0.000
Novorossiisk AASHF00 399.50–400.50 400.000 0.000 AASHG00 839.50–840.50 840.000 0.000
0.5% sulfur cargo assessment was down $3.77/mt on Istanbul PUAET00 624.50–625.50 625.000 -15.000 POACF00 904.50–905.50 905.000 0.000
the day at $627.28/mt, while the ICE May Brent futures Piraeus PUAFL00 537.50–538.50 538.000 -2.000 POADG00 884.50–885.50 885.000 +5.000
contract inched up 6 cents/b, or 44 cents/mt, during Lisbon MGLBO00 919.000 +4.000
Algoa Bay AMGAA00 1032.000 -2.000
the Platts bunker Market on Close assessment process
IFO 180 CST
from S&P Global Commodity Insights April 4. Durban PUAGX00 651.50–652.50 652.000 -10.000 PUAGY00 1342.50–1343.50 1343.000 -45.000
During and outside the MOC, Singapore-delivered IFO 380 CST Marine gasoil 0.5%
marine fuel 0.5%S bunker was heard offered at $638- Lome AAYJJ00 708.000 0.000 AAYJL00 1180.000 +10.000
Offshore Nigeria PUAGU00 717.50–718.50 718.000 0.000 AARKL00 1179.50–1180.50 1180.000 +10.000
$648/mt, with an overall range of offers for product
Ex-wharf
deliverable from April 5-15 onward. No bids or offers
Marine gasoil 0.1%
were heard during the MOC. Fos PUAEO00 534.50–535.50 535.000 -10.000 POABX00 923.50–924.50 924.000 -5.000
Platts assessed the grade at $640/mt April 4, down Augusta PUAED00 544.50–545.50 545.000 -10.000 PBABJ00 929.50–930.50 930.000 0.000
$5/mt on the day. Singapore-delivered marine fuel Ceuta PUAEG00 565.50–566.50 566.000 -10.000 AARSK00 909.50–910.50 910.000 +16.000
Genoa PUAFD00 543.50–544.50 544.000 -2.000 PBABK00 909.50–910.50 910.000 +10.000
0.5%S bunker premium over the benchmark Singapore
Marine gasoil 0.5%
Marine Fuel 0.5%S cargo fell $1.23/mt on the day to Dakar POABP00 956.50–957.50 957.000 -2.000
$12.72/mt April 4.
In the bunkering hub of Fujairah, steady end-user
demand for LSFO supported prices April 4, leading to
steadily rising delivered premiums.

© 2024 by S&P Global Inc. All rights reserved. 3

Bunkerwire April 4, 2024

LSFO suppliers in Fujairah have reported tight US and Canada ($/mt)

barging schedules with some only being able to load IFO 380 CST mid change Marine gasoil 0.1% mid change
Delivered (PGB page 860)
earliest April 14 and some expecting this trend to
Montreal* AARUP00 663.95–664.05 664.000 +4.000 AAWWZ00 884.95–885.05 885.000 +1.000
continue in the near term. New York AAGQN00 543.95–544.05 544.000 -1.000 AAWYB00 864.95–865.05 865.000 -6.000
“Demand has been picking up and it may continue Philadelphia AAGRF00 550.95–551.05 551.000 -5.000 AAWYD00 866.95–867.05 867.000 -8.000
as long as the Red Sea tensions persist,” said Fujairah- Charleston AAMNV00 655.95–656.05 656.000 -1.000 AAWWV00 942.95–943.05 943.000 +1.000
Norfolk AAGQW00 570.95–571.05 571.000 -1.000 AAWYC00 889.95–890.05 890.000 -91.000
based bunker suppliers. New Orleans AAGQE00 535.95–536.05 536.000 +2.000 AAWYA00 836.95–837.05 837.000 -20.000
During and outside the MOC, Fujairah-delivered Houston AAGPD00 495.95–496.05 496.000 +2.000 AAWWX00 843.95–844.05 844.000 -6.000
marine fuel 0.5%S bunker was heard offered at $639- Los Angeles AAGPM00 500.45–500.55 500.500 -1.000 AAWWY00 881.45–881.55 881.500 +1.000
San Francisco AAGRX00 513.95–514.05 514.000 -1.000 AAWYF00 885.95–886.05 886.000 +1.000
$650/mt, with the lower range of offers for product Seattle AAGSG00 512.95–513.05 513.000 -1.000 AAWYL00 838.95–839.05 839.000 +3.000
deliverables from April 10 to 14 onward. No bids or Vancouver AAJKU00 524.45–524.55 524.500 -1.000 AAWYM00 850.45–850.55 850.500 +3.000
offers were heard during the MOC. IFO 500 CST
New York AACNY00 534.000 -1.000
Platts assessed the grade at $642/mt April 4, down
*Delivered by truck.
$3/mt on the day. Fujairah-delivered marine fuel 0.5%S
Ex-wharf (PGB page 862)
bunker premium over the benchmark Singapore Marine Montreal PUAFE00 643.95–644.05 644.000 +4.000 AAWYS00 864.95–865.05 865.000 +1.000
Fuel 0.5%S cargo assessment rose 77 cents/mt on the New York PUAFI00 528.95–529.05 529.000 -1.000 AAWYU00 849.95–850.05 850.000 -6.000
day to $14.72/mt April 4. Philadelphia PUAFJ00 538.95–539.05 539.000 -5.000 AAWYW00 854.95–855.05 855.000 -8.000
Charleston AAMOE00 645.95–646.05 646.000 -1.000 AAWYP00 932.95–933.05 933.000 +1.000
Platts is part of S&P Global. Norfolk PUAFG00 555.95–556.05 556.000 -1.000 AAWYV00 874.95–875.05 875.000 -91.000
Savannah AAXJR00 645.95–646.05 646.000 -1.000 AAWZF00 920.95–921.05 921.000 +1.000
Platts North Asia Bunker Daily Commentary New Orleans PUAFH00 518.95–519.05 519.000 +2.000 AAWYT00 819.95–820.05 820.000 -20.000
Houston PUAES00 480.95–481.05 481.000 +2.000 AAWYQ00 828.95–829.05 829.000 -6.000
„ LSFO production levels in Zhoushan expected to dip Los Angeles PBAAP00 481.95–482.05 482.000 -1.000 AAWYR00 862.95–863.05 863.000 +1.000
San Francisco PBADF00 501.95–502.05 502.000 -1.000 AAWZE00 873.95–874.05 874.000 +1.000
„ South Korea’s HSFO supply sufficient despite Seattle PBABB00 498.95–499.05 499.000 -1.000 AAWZG00 824.95–825.05 825.000 +3.000
limited offers from suppliers Vancouver AAIAT00 508.95–509.05 509.000 -1.000 AAWZH00 834.95–835.05 835.000 +3.000
IFO 500 CST
New York AABNY00 519.000 -1.000
Fundamentals in China’s key bunkering hub of
Zhoushan strengthened on the day as low sulfur fuel However, a drawdown in LSFO inventory stockpiles
oil stockpiles continued to deplete amid a drawdown prevailed with the PetroChina refinery undergoing a US and Canada barging rates (PGB page 866)
in inventories, with some bunker suppliers saying that turnaround, which is only expected to conclude in mid- ($/mt) mid change
bunkering premiums is expected to be buoyed in the April, bunker suppliers said. New York AARUA00 14.95–15.05 15.000 0.000
second quarter. Cargo replenishments are only set to arrive at the Philadelphia AARUB00 11.95–12.05 12.000 0.000
Montreal* AARUC00 19.95–20.05 20.000 0.000
Over in the key South Korean ports of Busan and port upon the completion of refinery maintenance later Charleston AARUD00 9.95–10.05 10.000 0.000
Ulsan, sufficient stockpiles of high sulfur fuel oil in April. Norfolk AARUE00 14.95–15.05 15.000 0.000
persisted despite limited supplies, offering prompt The term contractual ex-wharf 0.5%S marine fuel Houston AARUF00 14.95–15.05 15.000 0.000
delivery of the grade. cargoes for April’s supply at the North Asian bunker New Orleans AARUG00 16.95–17.05 17.000 0.000
Los Angeles AARUH00 18.45–18.55 18.500 0.000
In Zhoushan, prompt demand fundamentals hub of Zhoushan were concluded around premiums San Francisco AARUI00 11.95–12.05 12.000 0.000
remained firm, although they lagged the levels of $6 to over $10/mt to the benchmark FOB Singapore Seattle AARUJ00 13.95–14.05 14.000 0.000
observed in early March, with local bunker traders 0.5% marine fuel cargo values, traders said April 4, with Vancouver AARUL00 15.45–15.55 15.500 0.000
saying, “Zhoushan and Shanghai prices are still lower expectations of a sturdier downstream market further *Denotes Montreal trucking rate.

than Singapore.” into April.

© 2024 by S&P Global Inc. All rights reserved. 4

Bunkerwire April 4, 2024

Barging fees were heard concluded at around South America ($/mt) (PGB page 870)
$5/mt, while the delivered term contracts for April IFO 380 CST mid change Marine gasoil 0.1% mid change
Delivered
were inked at around $15-$20/mt in Zhoushan to the
Buenos Aires PBABR00 1124.95–1125.05 1125.000 -5.000
benchmark FOB Singapore 0.5% marine fuel cargo El Callao PBABW00 1080.95–1081.05 1081.000 +1.000
values, traders said. Valparaiso PUAYR00 756.95–757.05 757.000 +1.000 PBABX00 1199.95–1200.05 1200.000 +15.000
The term contractual supply of ex-wharf 0.5%S Guayaquil AAJOC00 509.95–510.05 510.000 +7.000 AAJOG00 1130.95–1131.05 1131.000 +1.000
Libertad PUAYT00 508.95–509.05 509.000 +7.000 PBABY00 1129.95–1130.05 1130.000 +1.000
marine fuel cargoes for the Q2 of 2024 for Zhoushan Cartagena AAJOA00 580.95–581.05 581.000 +1.000 PBACW00 762.95–763.05 763.000 -3.000
was initially inked at premiums of around $8/mt, Montevideo PBADA00 1138.95–1139.05 1139.000 -1.000
traders said earlier March 22. Santos AAXWO00 918.000 -10.000
Ex-wharf
However, amid expectations of stronger demand
Balboa PUBAD00 484.95–485.05 485.000 -2.000 PBACU00869.95–870.05 870.000 -3.000
coupled with thinner supply, the contract was most Cristobal PUAEF00 549.95–550.05 550.000 -2.000 POABJ00870.95–871.05 871.000 -3.000
recently concluded marginally higher at around $10.00/ Panama Canal AAXWG00 485.000 -2.000 AAXWI00 870.000 -3.000
mt at the end of March, bunker traders said April 4.
The quarterly term ex-wharf contracts for the Posted Prices ($/mt)
upcoming quarter are usually concluded the quarter
before, based on forecasting of macroeconomic CPC Corporation, Taiwan (Effective date: April 3, 2024) (PGB page 2860)
sentiments from the previous quarter. Marine gasoil Low sulfur marine residual fuels Marine residual fuels
“Some think demand in Q2 is better than Q1, and MF-180 0.5% MF-380
Hualien, Suao CBGAM00 892.000 CB1AU00 676.000
[LSFO] supply may be [tighter] because refineries Kaohsiung CBGAP00 892.000 CB1AR00 676.000 CB3AN00 540.000
may produce less [of it to] produce other refined Keelung CBGAN00 892.000 CB1AT00 676.000
products [which are] more profitable for them [based Taichung CBGAQ00 892.000 CB1AS00 676.000
on economies of scale],” a China-based bunker
supplier said. Cargo prices ($/mt) (PGB page 1890)
The Platts-assessed Zhoushan-delivered marine
3.5% HSFO mid change Gasoil 0.1% mid change
fuel 0.5%S bunker premium over benchmark FOB FOB Mediterranean cargo PUAAZ00 485.00-485.50 485.250 +2.750 AAVJI00 821.75-822.25 822.000 -8.500
Singapore Marine Fuel 0.5%S cargo was valued at CIF NWE cargo PUABA00 475.50-476.00 475.750 +2.500 AAYWS00 831.50-832.00 831.750 -12.000
$3.95/mt at the April 3 Asian close, easing 43 cents/mt, FOB Rotterdam barge PUABC00 476.50-477.00 476.750 +2.500 AAYWT00 828.25-828.75 828.500 -15.250
FOB ARA DMA MGO barge LGARD00 792.000 -3.000
or 9.82%, on the day.
In South Korea, low demand for HSFO has resulted
in market dynamics remaining rather balanced despite
limited suppliers being available to deliver the grade on Busan and Ulsan, bunker traders said. National Oil Corp., due to the Lunar New Year festivity
a prompt basis, bunker suppliers said. The Platts-assessed South Korea-delivered 380 CST in the region.
“GS Caltex is almost dominating the HSFO market high sulfur fuel oil bunker premium over benchmark Bunker demand was last lower in August 2023,
since SK [Energy] stopped HSFO sales last month; FOB Singapore 380 CST HSFO cargo was valued at when it was recorded at 5.24 million barrels.
therefore, premiums are being maintained at a high $38.89/mt at the April 3 Asian close, down $1.69/mt, or Platts is part of S&P Global Commodity Insights.
level of about MOPS plus 45,” some South Korea-based 4.16%, on the day.
bunker traders said. In statistical news, bunker demand in South Korea Platts Hong Kong Bunker Delivered Daily
The South Korean market remained under pressure eased 7.4% on the month, but rose 10.6% on the Rationale & Exclusions
amid competitive bunker premiums in Zhoushan and year, to 5.92 million barrels, or around 932,000 mt, in Bunker Dlvd Hong Kong <PUAER00>, <MFHKD00>
Shanghai, which have shifted demand away from February, according to data by the state-run Korea assessment rationale:

© 2024 by S&P Global Inc. All rights reserved. 5

Bunkerwire April 4, 2024

The Hong Kong 380 CST bunker fuel assessment
April 4 took into consideration offers heard during
and outside the Platts Market on Close assessment
process, and the day-on-day change in the Asian 380
CST high sulfur fuel oil market.
The Hong Kong marine fuel 0.5% bunker fuel
assessment April 4 took into consideration offers
heard during and outside the Platts Market on
Close assessment process, and the day-on-
day change in the Asian 0.5% low sulfur fuel oil
market.
Exclusions: No market data was excluded from the
April 4 Hong Kong delivered bunker fuel assessment
process.
Platts is part of S&P Global Commodity Insights.
Platts Hong Kong Bunker Delivered Bids, The South Korea 380 CST bunker fuel assessment
Offers, Trades April 4 took into consideration offers heard during
and outside the Platts Market on Close assessment
Bids: process, and the day-on-day change in the Asian 380
No bids CST high sulfur fuel oil market.
Offers: The South Korean marine fuel 0.5% bunker fuel
No offers assessment April 4 reflected a bid at $666.50/mt
Trades: by Hyundai Fuels Pte. Ltd. for 500-600 mt of marine
No trades fuel 0.5% bunker for April 9-11 delivery at Busan/
This assessment commentary applies to the Ulsan during the Platts Market on Close assessment
following market data codes: Bunker FO 380 CST Dlvd process.
Hong Kong <PUAER00>, MF 0.5% Dlvd Hong Kong Exclusions: No market data was excluded from the
<MFHKD00> April 4 South Korea delivered bunker fuel assessment
process.
Platts South Korea Bunker Delivered Daily Platts is part of S&P Global Commodity Insights.
Rationales & Exclusions
Bunker Dlvd South Korea <PUAFR00>, <MFSKD00>
assessment rationale:

Platts Container Rates and Bunker Charges

These daily indexes for Platts Container Rates and Platts Bunker Charges provide unparalleled flexibility for the container industry in negotiating box rates and bunker surcharges in $/FEU on
major container routes. Platts Bunker Charge $/FEU indexes utilize Low Sulfur Marine Gas Oil and 0.5% Sulfur Marine Fuel assessments at representative ports along with other transparent
variables. For historical data, stories, and more, please contact the team at: containers@spglobal.com

Platts bunker charges, April 4 ($/FEU*)

Route From To Platts symbol Close Change Route From To Platts symbol Close Change
Head-haul Back-haul
PBC1 North Asia North Continent PBC0100 365.67 -1.68 PBC2 North Continent North Asia PBC0200 196.90 -0.90
PBC13 North Asia WC North America PBC1300 404.96 +0.22 PBC14 WC North America North Asia PBC1400 173.55 +0.09
PBC5 North Asia EC North America PBC0500 895.91 -0.55 PBC6 EC North America North Asia PBC0600 383.96 -0.24
PBC37 North Asia EC Africa PBC3700 737.11 -4.65 PBC38 EC Africa North Asia PBC3800 315.91 -1.99
PBC27 North Asia Australasia PBC2700 555.02 -0.13 PBC28 Australasia North Asia PBC2800 237.87 -0.05
PBC29 North Asia WC South America PBC2900 784.34 +1.90 PBC30 WC South America North Asia PBC3000 336.14 +0.81
PBC31 North Asia EC South America PBC3100 816.50 -2.08 PBC32 EC South America North Asia PBC3200 349.93 -0.89
PBC35 Europe WC Africa PBC3500 393.30 -0.19 PBC36 WC Africa Europe PBC3600 168.56 -0.08
PBC9 North Continent EC North America PBC0900 576.93 -7.72 PBC10 EC North America North Continent PBC1000 247.25 -3.31
PBC15 North Continent EC South America PBC1500 392.02 -2.14 PBC16 EC South America North Continent PBC1600 261.35 -1.43
PBC17 Indian Subcont. North Continent PBC1700 723.95 -1.75 PBC18 North Continent Indian Subcont. PBC1800 310.27 -0.75
PBC20 North Asia Indian Subcont. PBC2000 256.91 -1.35 PBC19 Indian Subcont. North Asia PBC1900 599.47 -3.13
PBC21 EC South America EC North America PBC2100 587.44 -3.52 PBC22 EC North America EC South America PBC2200 251.76 -1.51
PBC23 SE Asia WC North America PBC2300 489.52 -0.08 PBC24 WC North America SE Asia PBC2400 209.80 -0.03
PBC25 SE Asia EC North America PBC2500 1008.36 -2.02 PBC26 EC North America SE Asia PBC2600 432.15 -0.87
PBC56 EC South America US Gulf Coast PBC5600 541.39 -1.33 PBC57 US Gulf Coast EC South America PBC5700 541.39 -1.33
PBC39 Indian Subcontinent EC North America PBC3900 1220.42 -5.46 PBC40 EC North America Indian Subcontinent PBC4000 406.81 -1.82
*Forty-foot equivalent unit

© 2024 by S&P Global Inc. All rights reserved. 6

Bunkerwire April 4, 2024
Platts South Korea Daily Bunker
Delivered Bids, Offers, Trades
Bids:
1)Platts Bunker: MF 0.5%: 500-600mt: Busan/Ulsan:
Apr 9-11: Hyundai Fuels Pte Ltd bids at $666.50/mt
2)Platts Bunker: 0.5% MGO: 50mt: Busan/Ulsan: Apr
9-11: Hyundai Fuels Pte Ltd bids at $827.50/mt
Offers:
No offers
Trades:
No trades
This assessment commentary applies to the
following market data codes: Bunker FO 380 CST Dlvd
South Korea <PUAFR00>, MF 0.5% Dlvd South Korea
<MFSKD00>
Platts Japan Bunker Delivered Daily Rationale &
Exclusions
Bunker Dlvd Japan <PUAEV00>, <MFJPD00>
assessment rationale:
The Japan 380 CST bunker fuel assessment April 4
took into consideration offers heard during and outside
the Platts Market on Close assessment process, and
Bunkerwire
Contact Client Services: ci.support@spglobal.com; Americas: +1-800-752-8878;
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Trade Data: S&P Global Commodity Insights has defined standards for entities it
considers to be related and verifies through a variety of inputs whether
counterparties in reported trades meet these criteria.
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trademarks of S&P Global Inc. Permission for any commercial use of these
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other related information, graphs, tables and images (“Data”) in this publication
© 2024 by S&P Global Inc. All rights reserved. 7
the day-on-day change in the Asian 380 CST high
sulfur fuel oil market.
The Japan marine fuel 0.5% bunker fuel assessment
April 4 took into consideration offers heard during
and outside the Platts Market on Close assessment
process, and the day-on-day change in the Asian 0.5%
low sulfur fuel oil market.
Platts is part of S&P Global Commodity Insights.
Exclusions: No market data was excluded from
the April 4 Japan delivered bunker fuel assessment
process.
Platts Japan Bunker
Delivered Bids, Offers, Trades
Bids:
No bids
Offers:
No offers
Trades:
No trades
This assessment commentary applies to the
following market data codes: Bunker FO 380 CST Dlvd
Japan <PUAEV00>, MF 0.5% Dlvd Japan <MFJPD00>
only for your personal use or, if you or your company has a license for the Data
from S&P Global Commodity Insights and you are an authorized user, for your
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Platts European Bunker Daily Commentary
„ HSFO tight in ARA
„ Prices in Rotterdam move marginally
The Northwest European bunker fuel market was
more vibrant April 4, with prices in Rotterdam moving
marginally in both directions.
MGO and VLSFO dropped by $3/mt, while VLSFO
rose $2/mt, Platts assessments showed.
These moves narrowed the Hi-5 spread by $2/mt,
leaving it at $126/mt.
The Amsterdam-Rotterdam-Antwerp hub had a
good day with demand hovering around healthy levels.
Availability was good for VLSFO and MGO, while
HSFO was tight across the whole ARA complex, a
supplier said, adding that inquiries were focused on
VLSFO and MGO.
The Danish port of Skaw remained on the slow side
in terms of demand, with weather in the region still
creating difficulties.
Platts is part of S&P Global Commodity Insights
and/or completeness of the Data or any component thereof or any
communications (whether written, oral, electronic or in other format), and shall not
be subject to any damages or liability, including but not limited to any indirect,
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loss of profits, trading losses and loss of goodwill).
ICE index data and NYMEX futures data used herein are provided under S&P Global
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You acknowledge that the ICE index data and NYMEX futures data herein are
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Permission is granted for those registered with the Copyright Clearance Center
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For all other queries or requests pursuant to this notice, please contact S&P Global
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Bunkerwire April 4, 2024
Platts Oil Bunker FO 380 CST Delivered
Rotterdam Exclusions
Exclusions: None
This assessment commentary applies to the
following market data codes:Bunker FO 380 CST 3.5%
Dlvd Rotterdam <PUAFN00>; Marine Gasoil 0.1% Dlvd
Rotterdam <AARTG00>
Platts Bunker FO 380 CST Delivered
Rotterdam Bids, Offers, Trades
Bids: None
Offers:
„ Platts Bunker 380 CST 3.5% (300-500) Dlvd
Rotterdam 6Apr-8Apr24, UNITEDBUNK offer
$478.00 for 500
„ Platts Bunker 380 CST 3.5% (300-500) Dlvd
Rotterdam 8Apr-10Apr24, UNITEDBUNK offer
$478.00 for 500
„ Platts Bunker 380 CST 3.5% (300-500) Dlvd
Rotterdam 10Apr-12Apr24, UNITEDBUNK offer
$478.00 for 500
Trades: None
This assessment commentary applies to the
following market data codes: Bunker FO 380 CST 3.5%
Dlvd Rotterdam <PUAFN00> Marine Gasoil 0.1% Dlvd
Rotterdam <AARTG00>
Platts Mediterranean and African Bunker
Daily Commentary
„ Gibraltar still congested
„ Las Palmas tight on VLSFO
The Mediterranean bunker market was slower
on the day, sources said April 4, while the recent
congestion at Gibraltar remained with around 10
vessels waiting.
© 2024 by S&P Global Inc. All rights reserved. 8
“We expect the port to [return to normal operations]
before the end of the week, hopefully,” one local
supplier said.
Demand in the Strait of Gibraltar was slower day
on day, while MGO and VLSFO availability was limited
compared to HSFO.
Las Palmas was also slow and tight on VLSFO. “We
are waiting for a cargo over the next week,” a regional
supplier said.
In the central Med, Malta remained at below-
average demand levels despite seeing a pick-up on
the day.
The East Mediterranean was also slower than in
previous days.
“It is normal because last week we booked a lot
... until next week, so we expect a calm [period],” a
Piraeus-based supplier said.
Platts Oil EMEA Daily Med Bunker FO
Exclusions
Exclusions: None
This assessment commentary applies to the
following market data codes:Bunker FO 380 CST
3.5% Dlvd Gibraltar <AAKAB00>; Marine Gasoil 0.1%
Dlvd Gibraltar <AARSU00>; Bunker FO 380 CST 3.5%
Dlvd Algeciras <PUAFA00>; Marine Gasoil 0.1% Dlvd
Algeciras <AARSH00>; Bunker FO 380 CST 3.5% Dlvd
Piraeus <PUAFL00>; Marine Gasoil 0.1% Dlvd Piraeus
<POADG00>
Platts Mediterranean Bunker Fuel Oil Bids,
Offers, Trades
Bids: None
Offers: None
Trades: None
This assessment commentary applies to the
following market data codes: Bunker FO 380 CST
3.5% Dlvd Gibraltar <AAKAB00> Marine Gasoil 0.1%
Dlvd Gibraltar <AARSU00> Bunker FO 380 CST 3.5%
Dlvd Algeciras <PUAFA00> Marine Gasoil 0.1% Dlvd
Algeciras <AARSH00> Bunker FO 380 CST 3.5% Dlvd
Piraeus <PUAFL00> Marine Gasoil 0.1% Dlvd Piraeus
<POADG00>
Platts Americas Bunker Fuel Daily
Commentary
„ New York bunker prices drop as crude futures rise
„ USGC spot VLSFO price decreases on day
The North America spot marine fuel bunkers market
prices showed mixed movement April 4 as the Brent
futures contract rose on the day.
Platts assessed spot 0.5%S VLSFO bunkers in New
York at $650/mt ex-wharf, down $5 on the day, and
assessed MGO down $6 at $850/mt ex-wharf.
The New York assessments reflected indications
heard at $650/mt for VLSFO and an indication at $850/
mt for MGO.
An area source said there will be delays in New York
due to snowy and windy weather conditions in the port.
A second source, meanwhile, said availability in New
York Harbor was tight.
Platts assessed 0.5%S VLSFO bunkers in
Philadelphia at $655/mt delivered, down $9 on the day,
and assessed MGO in the port at $855/mt delivered,
down $8 on the day.
Philadelphia assessments reflected an indication
heard at $655/mt for VLSFO and an indication heard at
$855/mt for MGO.
Platts assessed 0.5%S VLSFO bunkers in Montreal
at $755/mt delivered, up $4 on the day, and assessed
MGO in the port at $885/mt delivered, up $1 on the day.
Montreal assessments followed the June ICE Brent
futures contract and the May ULSD futures contract,
which both increased on the day.
On the West Coast, Platts assessed spot 0.5%S
VLSFO bunkers in Los Angeles at $710/mt delivered, up
Bunkerwire April 4, 2024
$20 on the day, and assessed MGO in the port up $1 at
$863/mt ex-wharf.
The Los Angeles VLSFO assessment reflected
an indication heard at $720/mt, while the MGO
assessment tracked ULSD.
Platts assessed spot 0.5%S VLSFO bunkers
in Vancouver at $731/mt, down $1 on the day and
assessed MGO at $835/mt, up $3.
The Vancouver assessments reflected an indication
heard at $731/mt for VLSFO and an indication heard at
$845/mt for MGO.
US Gulf Coast spot assessments generally moved
down April 4, moving against the Brent futures
contract.
Platts assessed spot 0.5%S VLSFO bunkers in
Houston down $6 at $649/mt ex-wharf and assessed
MGO in the port down $6 at $829/mt ex-wharf.
The Houston VLSFO assessment reflected
indications heard at a range of $645-$655/mt while
the MGO reflected indications heard at a range of
$825-$830/mt.
Platts assessed spot 0.5%S VLSFO bunkers in New
Orleans down $6 at $673/mt ex-wharf and assessed
MGO in the port down $20 at $820/mt ex-wharf.
The New Orleans assessments reflected an
indication heard at $665/mt and an indication heard at
$815/mt for MGO.
The June ICE Brent futures contract stood at
$90.65/b at 2:30 ET, rising $1.30/b, while the May ULSD
futures contract rose 0.89 cents to $2.7413/gal.
Platts is part of S&P Global Commodity Insights.
Platts Latin American
Bunker Daily Commentary
„ MGO hikes $15 in Chile
„ VLSFO prices moves up across the board
Latin American spot bunker fuels prices were mixed
April 4, despite rallying at closing in the futures market.
© 2024 by S&P Global Inc. All rights reserved. 9
The ICE front-month Brent futures contract settled at
$90.65/b, up $1.30/b, or $9.87/mt, on the day. The front-
month NYMEX ULSD contract settled at $2.7413/gal,
a 7.51-cent rise on the day. In both cases, the increase
happened within the last hour of the day’s session.
The end of “Cruise Season” in Chile supported
marine fuels pricing hike, a source said.
Platts assessed marine fuel 0.5%S spot price in
Valparaiso $5 up at $980/mt delivered, amid a $15 rise
in marine gasoil spot price at $1,200/mt.
Despite the increase in Diesel Futures, MGO
spot prices in other region’s key ports experienced
moderate declines, except for Santos, where MGO was
assessed $10 down on the day at $918/mt delivered.
0.5%S spot prices experienced escalation in the
region, with the strongest climb seen in Ecuador,
where Platts assessed 0.5%S in Guayaquil at $775/mt
delivered, $16 higher day on day.
Platts is part of S&P Global Commodity Insights.
Singapore LNG bunker prices see uptick on
demand while Atlantic LNG bunkers weaken
„ Singapore LNG bunker premium to Rotterdam
widens to four-month high
„ Bunker Holding to establish physical LNG bunker
delivery unit
„ Japan receives LNG bunker vessel KEYS Azalea
Asian LNG bunker prices saw strength on the
week, supported by pockets of demand, while Atlantic
LNG bunker prices continued to be weighed down by
bearish pressures.
Platts assessed the Rotterdam LNG bunker fuel
price at $10.333/MMBtu on April 3, down 34.5 cents/
MMBtu on the week. The Barcelona LNG bunker fuel
price was assessed at $10.50/MMBtu April 3, down 34
cents/MMBtu on the week.
This compared with an NWE DES May value of
$7.895/MMBtu April 3, widening the spread between
Rotterdam LNG bunker fuel and NWE DES to $2.438/
MMBtu, up from $2.126/MMBtu last week.
Bunker Holding announced its plans on April 3 to
establish a physical LNG bunker delivery unit to serve
the Northwestern European market, as the company
sees strong LNG bunker demand prospects.
The US Southeast Coast LNG bunker fuel price was
assessed at $10.053/MMBtu on March 27, down 28
cents/MMBtu on the week.
Across the basin, Asian LNG prices saw a modest
uptick week on week as the market witnessed support
from Japanese demand for prompt cargoes and
pockets of demand from Bangladesh and Thailand.
However, sufficient inventories in India and lower
downstream prices in China kept demand from these
countries muted.
Across the basin, the Singapore LNG bunker fuel
price was assessed at $12.646/MMBtu April 4, up by
13.7 cents/MMBtu on the week. Platts assessed the
March JKM at $9.446/MMBtu April 4, widening the
spread to the cargo market to $3.20/MMBtu, up from
$3/MMBtu last week.
This saw the premium of LNG marine fuel in
Singapore to LNG fuel in Rotterdam widen to a four-
month high of $2.232/MMBtu on April 4.
Taiwan also shut down some coal- and gas-fired
power plants in the aftermath of a massive earthquake
on April 3. Another earthquake was reported in Japan
on April 4. Market participants are waiting to see if this
has impacted LNG cargo deliveries to Japan.
In wider news, Japanese joint venture KEYS
Bunkering West Japan Corporation held a ceremony on
March 28 to mark the delivery of LNG bunkering vessel
KEYS Azalea at Mitsubishi’s Yamatomachi Shipyard,
NYK Line said in a statement April 2.
KEYS Azalea will provide domestic coastal
transportation of LNG to consumers in the Kyushu and
Setouchi area and LNG bunkering for ships calling at
ports in the region.
Platts is part of S&P Global Commodity Insights.
Bunkerwire April 4, 2024

Subscriber Notes Commodity Insights, has corrected the April 2, 2024, These assessments appear in Platts European
assessments for fuel oil 3.5%S NWE cargoes. Marketscan and Platts Global Alert pages 1510 and 1110.
Platts corrects April 2 fuel oil 3.5%S NWE cargo The assessments should read as follows: Please send any questions or comments to
assessments Assessment Symbol High ($/mt) Low ($/mt) Close ($/mt) Europe_Products@spglobal.com with a cc to
FO 3.5%S CIF NWE Cargo PUABA00 471.50 471 471.25
Please note that Platts, part of S&P Global FO 3.5%S FOB NWE Cargo PUABB00 453.50 453 453.25
pricegroup@spglobal.com.

© 2024 by S&P Global Inc. All rights reserved. 10