GASOLINE

The differential for MR-size cargoes of 92RON gasoline on an FOB China basis was unchanged. Discussions on cargoes loading in December started. Formosa Petrochemicals Co (FPCC) in Taiwan issued a sell tender for two MR-size cargoes of 93RON gasoline (0.005%S) loading on Dec 22-26 on Thursday. A refiner in China also made moves to sell two 92RON gasoline cargoes loading in December from South China. Meanwhile, no spot purchases were seen from Southeast Asia including Indonesia. In the country, last week, the 340,000b/d Cilachap refinery seemed to have restarted, so that demand for imported cargoes were declining.

NAPHTHA

Naphtha prices for arriving in Asia were softening since ethylene derivatives margins were dampening and demand for naphtha as the feedstock was receding. Further, refineries in Europe, the Middle East, and South Korea were resuming from turnaround and were pulling up run rates, so that supply of naphtha was also increasing.

MIDDLE DISTILLATES

The differentials for MR-size cargoes of 0.001% sulfur gasoil on an FOB Northeast Asia basis were down on expectations that supply would increase. In Northeast Asia, refiners in the regions were expected to increase the number of spot cargoes of 0.001% sulfur gasoil loading in December as they had finished turnaround on their refineries. In addition, the number of cargoes from the Middle East and India was also increasing. Therefore, a trader said that outlets for cargoes from Northeast Asia were limited. In the market, it was pointed out that some cargoes from Northeast Asia loading from the end of November to early December may have been traded at a discount in the range of $050-1.00/bbl to the quotations on an FOB basis, but details were unknown.

FUEL OIL

The differential for MR-size cargoes of 0.5% sulfur fuel oil on an FOB South Korea basis was up on the impact of increases in demand for 0.5% sulfur fuel oil in the Singapore market. A trader explained that the deal level was slightly hiking compared to October and the present differentials on an FOB Singapore and South Korea bases were advancing to a premium of at least more than $200/mt to Singapore quotations (180cst).

Asia-products(Japanese) report sample

Products (English) report sample