The Business Times
The Business Times
Subscribe
View more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

Glencore buys over 1m tonnes of fuel oil in Singapore as premiums slump

Other buyers on the Platts window in June include PetroChina, which bought 666,000 tonnes of the fuel

Published Wed, Jun 10, 2015 · 09:50 PM
Share this article.

Singapore

GLENCORE plc has bought more than one million tonnes of fuel oil in Singapore this month as prices tumble from a record premium in the world's biggest bunker market.

The company has purchased at least 925,000 tonnes of 380-centistoke fuel oil and 140,000 tonnes of the 180-centistoke grade so far in June on the so-called window run by pricing service Platts, a unit of McGraw Hill Financial Inc. Glencore's cargoes, loading this month and in July, account for about 36 per cent of the total transacted volume of 2.95 million tonnes, Platts data show.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Energy & Commodities

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here