There has been tepid demand of Sing 0.5% along with Al Zour refinery in Kuwait releasing tenders in April and May for VLSFO meaning there is ample supply. However 380 seems to be a tighter supply at the moment, with Eastern countries also using it for power generation for cooling systems.
The Hi5 price has been in a decline for a couple of months and we believe there is still room before we see a turn around.
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