Singapore bunker prices fell on Monday, tracking lower fuel oil cargo values. Bunker fuel of 380-centistoke (cst) grade was pegged at $188-$190 a tonne, down $3 from the previous trading day with the premium to cargo levels eased $1.13 to $2.50 a tonne. "Despite the falling prices, demand was not fantastic as ship-owners are believe levels will be lower over the next few days as the market is on a downtrend," a Singapore-based trader said.

"Most sellers are offering at realistic levels of $189-$190 a tonne but not many buyers are biting. Some sellers are little more aggressive as they rather sell at the higher end of a falling market."

Copyright Reuters, 2005