GASOLINE

The differential for MR-size cargoes of 92RON gasoline on an FOB Northeast Asia basis stayed intact. Demand in Southeast Asia remained sluggish. Vietnam's state-owned Petrolimex was conducting a term buy tender of 90.8RON gasoline loading from January to March next year. Through the tender, the company would take one MR-size cargo per month. Meantime, there seemed to be some demand of 92RON gasoline in the Philippines. On the supply side, Formosa Petrochemicals Co (FPCC) in Taiwan sold 500,000bbl of 92RON gasoline loading on Jan 19-23 at a premium of $1.30/bbl to Singapore quotations on an FOB basis. As reported, a refiner in China made moves to sell an MR-size cargo of 92RON gasoline loading on Jan 10-11 from South China.

NAPHTHA

In the Northeast Asian spot market, an Asian market source reckoned that the equivalence to a 30-days pricing formula from a 45-days pricing formula and the evaluation of first-half January delivery was equal to a premium of around $35/mt for CFR Japan prices. Based on that, the Asian market source viewed that heavy full range naphtha was concluded at the same level as light grade naphtha and tightness in supply and demand fundamentals for light naphtha was severer.

MIDDLE DISTILLATES

The differential for MR-size cargoes of 0.001% sulfur gasoil on an FOB Japan basis waned, while FOB China prices showed no change. Supply/demand fundamentals were slackening on weak demand. That pushed down the differential on an FOB Japan basis. It was reported that an MR-size cargo of 0.001% sulfur gasoil loading in mid-January from Japan was traded at a discount of slightly deeper than 60cts/bbl to Singapore quotations on an FOB basis. In China, one refiner was making moves to sell an MR-size cargo of 0.001% sulfur gasoil loading in January. A trader said that the selling pressure was strengthening among oil companies in China.

FUEL OIL

The differential for MR-size cargoes of 0.5% sulfur fuel oil on an FOB South Korea basis held steady. South Korean oil companies were increasing imports from Singapore and so on. The purposes of use were mainly bunker for coastal vessels and feedstock for 0.3% sulfur fuel oil. An Asian oil company said that prices for 0.5% sulfur fuel oil in Asian regions were keeping steady. In Singapore, while residue fuel oil stocks increased 2% compared to the previous week, the floating stocks for VLSFO decreased to 8 mil mt in comparison with10 mil mt, levels seen a while ago. Afterward, an expected increase in VLSFO demand would accelerate sales by traders and reduction in VLSFO stocks.

Asia-products(Japanese) report sample

Products (English) report sample