ASIA FUEL OIL MOC: Loadings reach three-month high of 1.36 million mt in Feb

Participants in the Asia Platts physical fuel oil Market on Close assessment process concluded loading and discharging 1.36 million metric tons in February, marking a three-month high, according to operational trade performance data compiled by Platts, part of S&P Global Energy.

Traded fuel oil volumes were last higher in November 2025, when 1.6 million mt changed hands through the MOC process.

The jump in activity, with loading concentrated at terminals in Singapore and southern Malaysia, represented a 423% increase from January levels and a more than 580% increase year over year, Platts data showed.

BP (480,000 mt) and Trafigura (400,000 mt) were the largest buyer and seller, respectively, in February, according to the data.

The data showed that the 380 CST high sulfur fuel oil grade accounted for the bulk of the traded volume at 680,000 mt, with the marine fuel 0.5%S grade accounting for 540,000 mt and 180 CST HSFO at 140,000 mt.

Both the high sulfur fuel oil market and low sulfur fuel oil recorded on month gains in traded volumes, in what market participants said was a mixed bag of fundamentals for both markets.

At the time, market participants said the Asian HSFO market was weighed down by ample prompt supplies and sluggish downstream bunker demand, leading to several competitive offers during the Platts Market On Close assessment process.

Meanwhile, a dip in arbitrage volumes from the West had placed a floor under the Asian LSFO market, with demand further buoyed by expectations of firmer buying efforts in March.

Performance Tracking

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.

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 February 2026.

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

Source: S&P Global Energy, company sources