Singapore’s marine bunker sales declined for a fourth consecutive month in April, official data showed late on Tuesday.
April sales totalled 4.24 million metric tons at the world’s largest ship refuelling hub, down 4.7% from March, according to data from Singapore’s Maritime and Port Authority.
Monthly sales posted an annual decline for the first time in four months, a sign geopolitical shipping tensions have started to ease compared to the start of the year.
Total bunker sales in the first quarter were higher compared to the same period last year, driven by stronger demand following Red Sea shipping disruptions that led to longer voyages for some vessels.
Vessel calls at Singapore for bunkering dipped 3% in April to 3,389 calls, while monthly container throughput totalled 3.39 million 20-foot equivalent units (TEUs).
CONVENTIONAL FUELS
Sales of Low-Sulphur Fuel Oil (LSFO) totalled 2.25 million tons in April, down 6.9% from March, the data showed.
Some demand was diverted to Chinese bunker ports like Shanghai and Zhoushan as prices at those ports were lower than Singapore’s for most of April, based on trade sources.
Marine gasoil (MGO) sales also trended lower at Singapore, sliding 8.9% from March to 287,100 tons in April.
Meanwhile, high-sulphur marine fuel oil (MFO) sales totalled 1.60 million tons, largely stable from March.
ALTERNATIVE FUELS
Sales of alternative bunker fuels softened in April, in line with the broader slowdown in vessel refuelling demand.
Bunker sales of Liquefied Natural Gas (LNG) fell 7.9% from March to 35,600 tons in April, snapping a four-month uptrend.
Demand for LNG to power ships is still expected to improve this year as more dual-fuel vessels join the global fleet, said industry sources.
Separately, marine biofuel sales dipped 9.8% from March to 59,600 tons in April.
Source: Hellenic Shipping News
