Asia Fuel Oil Premium Shrinks as Freight Favors Western Supplies


March 16, 2014

Fuel oil traders in Asia are paying the lowest premium in six months for the earliest deliveries as sliding freight rates boost supplies from the West.

April swaps for 180-centistoke fuel oil in Singapore, the regional benchmark grade, cost 52 cents a metric ton more than May shipments this month, the least since September, data compiled by Bloomberg show. The front-month contract swung to a discount, or contango, last week for the first time in three months, indicating weakening demand or abundant availability of supply. Prompt cargoes may trade at a 92 cent premium on average in the second half of March, according to the median of five estimates in a Bloomberg News survey of analysts and traders.

Charter rates for

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Spain's weekly LNG throughput down 26.2% as Sagunto falls to zero


Monday, 10 March 2014 | 20:40

Spanish LNG throughput dropped 26.2% year on year in the week ending March 9 weighed by a drop to zero at the Sagunto terminal, data published Monday by Spanish gas grid operator Enagas showed.
Combined throughput from Spain's six LNG terminals in the week that ended Sunday was 1.99 TWh, down from 2.70 TWh in the same week last year with annualized decreases at five of the six terminals, Enagas data showed.
Throughput at Sagunto, near Valencia was zero throughout the week, compared to 351 GWh a year earlier, with Enagas not supplying a reason nor reporting any maintenance or incidents at the site. Elsewhere, throughput at Spain's largest terminal, Barcelona, fell 12.4% to 729 GWh,

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