HK suppliers settle Feb 380 CST bunker premium at $16-19.50/mt, up about $1

Hong Kong bunker suppliers said that they had settled the ex-wharf premium for February-loading 380 CST bunker fuel with importers at $16-19.50/mt to Mean of Platts Singapore 380 CST high sulfur fuel oil assessments.
The premium was $15.50-18.50/mt for January.
The premium rose about $1/mt, in line with HSFO premiums in the Singapore market, said a trader.
Suppliers said no significant changes in demand and supply fundamentals were expected in February.
The differential for Singapore 380 CST HSFO, which is the benchmark used to negotiate Hong Kong's ex-wharf premium, averaged a discount of $0.98/mt over January 1-30, compared with a discount of $2.03/mt in December, Platts data showed.
The premium for Hong Kong ex-wharf 180 CST bunker fuel for February was settled at MOPS 380 CST plus $18-20/mt, compared with $16-18.50/mt for January, suppliers said.
Fuel oil is imported into Hong Kong by ExxonMobil, Chevron, Sinopec and Chimbusco Pan Nation, mainly from Singapore, and sold on an ex-wharf basis as bunker fuel to local traders and major suppliers like Chimbusco Pan Nation, Vermont, Feoso, Sinopec and Soaring Dragon. These suppliers then deliver the fuel to ships using their own barges at delivered-basis prices.
Hong Kong suppliers sell about 500,000 mt/month of bunker fuel, and the port has the capacity to store 453,000 mt. Of the total storage, ExxonMobil owns 310,000 mt. It has leased 250,000-260,000 mt to Chimbusco Pan Nation since February. The rest is owned by Sinopec (100,000 mt), and Chevron (43,000 mt).
Source: Platts