Cash-rich marine fuel traders to gain from OW's fall

Singapore

THE downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post- OW Bunker jostle for market share towards cash-rich trading companies and barge operators, traders said.

Marine fuel premiums over cargo prices in Singapore, the world's busiest refuelling port, have stayed elevated after hitting their highest in more than two years in the wake of OW Bunker's collapse as worried buyers tried to lock in prompt supplies.