Conoco, which primarily trades crude in Asia, was trying to sell a 380-centistoke (cst), 20,000-tonne parcel at a premium of $3 a tonne to Singapore spot quotes for March 27-31 loading.

The offer to sell the fuel oil parcel did not receive any interest.
The refiner recently leased about 150,000-200,000 cubic metres (cu m) of fuel oil storage capacity from commercial operator Royal Vopak’s (VOPA.AS: Quote, Profile, Research) new facility in Sebarok, in the Republic’s Jurong Island refining hub.

Conoco’s storage and its presence in the Asian fuel oil market will put it on the same playing field as other mid-sized players, such as Cargill International [CARG.UL], Koch Refining and Trafigura, which have about 150,000-200,000 cu m of storage tanks, though overall additional capacity in Singapore far outweighs real demand. (Reporting by Luke Pachymuthu; Editing by Ben Tan)