ASIA FUEL OIL MOC: Fuel oil volumes hit five-month high in November

Participants in the Asia Platts physical fuel oil Market on Close assessment process concluded loading and discharging 1.6 million metric tons in November 2025, marking a five-month high, according to operational trade performance data compiled by Platts, part of S&P Global Energy.

The November volumes were the highest since June 2025, when 2.14 million mt changed hands through the MOC process.

The surge in activity, with loading concentrated at terminals in Singapore and southern Malaysia, represented a 158% increase from October levels and a 166% jump year over year.

Trafigura (1.14 million mt) and Saudi Aramco (400,000 mt) were the largest buyer and seller, respectively, in November.

Platts closely monitors performance on trades reported through the Market on Close assessment process as part of its ongoing commitment to upholding the highest standards of integrity and transparency.

The data showed that the 380 CST high sulfur fuel oil grade accounted for the bulk of the traded volume at 1.4 million mt, with the marine fuel 0.5%S grade accounting for 160,000 mt and 180 CST HSFO at 40,000 mt.

Performance tracking

As part of trade performance tracking, Platts has reviewed various aspects of performance, including timeliness of nominations, completion of loading, as well as other published parameters of the trades.

The table below shows performance tracking details of all trades that were reported through the Asia fuel oil physical MOC process in November 2025.

Details of November trades reported through the Asia fuel oil physical Platts MOC:

ITT = inter-tank transfers

Source: S&P Global Energy, company sources