S Korean refiners settle Mar bunker premium at $16-22/mt, unchanged from February

South Korean refiners settled the premium for March delivery 380 CST bunker fuel with traders at $16-22/mt to Mean of Platts Singapore 380 CST high sulfur fuel oil assessments, unchanged from February, industry sources said Tuesday.
They attributed the unchanged prices to steady premiums in exporting high sulfur fuel oil cargoes on an FOB Korea basis. Premiums for March HSFO cargoes were $5-6/mt to MOPS 380 CST assessments on a FOB Korea basis, similar to February cargoes, the sources said.
S-Oil is likely to have settled the 380 CST bunker premium at $16-17/mt for March, same as February, while GS Caltex settled around $21-22/mt, also unchanged from February, according to the sources.
South Korea sells about 700,000 mt/month of bunker fuel.
Source: Platts