Resid/bunkers:Positive

摘要

The prompt balance-December/January intermonth spread in Asian fuel oil paper dug deeper into positive territory Thursday,climbing as much as l/mt on keen buying interest.That corresponds with the gain in cargo premiums for both 180 CST and 380 CST,which rose about 60-70 cents/mt.Fundamentally,this suggests that the volume of arbitrage cargoes arriving in Eastern shores in late December and the first decade of January will not be enough to satisfy demand.Industry sources expect over 3 million mt of imported fuel oil to land in Asia/Pacific in January 2009,or up to 500,000 mt higher than in December.