Singapore’s marine bunker sales logged a 9.2% monthly rebound in July after sliding sharply in June, official data showed on Wednesday.
July sales totalled 4.67 million metric tons at the world’s largest ship refuelling hub, hitting a two-month high and posting a 3.3% uptick from the same month last year, data from the Maritime and Port Authority of Singapore (MPA) showed.
Volumes for conventional bunker fuels edged higher for all key grades, led by higher buying interest after crude and bunker prices trended lower during the month.
Container throughput also climbed in Singapore, hitting 3.57 million twenty-foot equivalent units (TEUs), up 6.6% from June.
CONVENTIONAL FUELS
Sales of low-sulphur fuel oil (LSFO) totalled 2.49 million tons in July, up 6.6% month-on-month after vessel arrivals picked up at Singapore, the MPA data showed.
Delivered LSFO prices in Singapore were cheaper than prices at other Asian ports, such as Zhoushan and Shanghai, as per data from bunker traders.
Meanwhile, high-sulphur marine fuel oil (MFO) sales totalled 1.78 million tons, up 14.3% from June. Marine gasoil (MGO) sales firmed 8.3% month-on-month to 310,600 tons in July.
ALTERNATIVE FUELS
Total marine biofuel sales, including both low-sulphur and high-sulphur blends, inched 1.6% higher from June to 48,600 tons in July.
Bunker sales of liquefied natural gas (LNG) retreated in July, with volumes at 43,200 tons, after hitting a record monthly high in June.
Source: XM
