By Jeslyn Lerh
SINGAPORE, Aug 15 (Reuters) – Marine fuel sales in Singapore, the largest bunkering hub in the world, rose by 10% month-on-month to a seven-month high of 4.12 million tonnes in July, latest data from the Maritime and Port Authority (MPA) of Singapore showed.
The uptick came amid a rise in vessel arrivals for bunkering, which climbed 8% month-on-month to 3,181 vessel calls in July. Bunker fuel prices were also lower in July versus June, amid softer upstream crude prices.
Sales for both low-sulphur fuel oil (LSFO) and high-sulphur fuel oil (HSFO) grades climbed from the previous month, the MPA data showed.
LSFO supplied to ships climbed by 7% month-on-month to 2.51 million tonnes in July, though the sales fell by 7% year-on-year.
Low-sulphur bunker fuel premiums were still elevated in the first half of July, at a time when cargo premiums rallied to record highs, before trending lower towards the end of the month.
Meanwhile, HSFO supplied to ships rose by 16% month-on-month to 1.27 million tonnes in July, and were 20% higher year-on-year.
Reflecting an uptick in demand, high-sulphur bunker fuel premiums have trended steady to slightly higher towards the end of July.
Sentiment around demand has been holding steady to firmer in August, with some bunker suppliers and traders reporting more buying inquiries as crude prices and low-sulphur bunker fuel premiums slid further, they said.
| TOTAL BUNKER SALES – Including HSFO, LSFO, MGO, Others | ||||||
| 2022 | Total Sales (‘000) | % mom | % yoy | Vessel Arrivals for Bunker | % mom | % yoy |
| Jan | 4,033.40 | -3% | -10% | 3,115 | -1% | -13% |
| Feb | 3,501.60 | -13% | -15% | 2,805 | -10% | -13% |
| Mar | 3,770.10 | 8% | -10% | 3,020 | 8% | -13% |
| Apr | 3,742.30 | -1% | -12% | 3,025 | 0% | -13% |
| May | 4,115.50 | 10% | 1% | 3,168 | 5% | -5% |
| Jun | 3,754.10 | -9% | -9% | 2,940 | -7% | -9% |
| Jul | 4,120.60 | 10% | 1% | 3,181 | 8% | -3% |
| HIGH-SULPHUR MARINE FUEL SALES (in ‘000 tonnes) | ||||||
| 2022 | HSFO 180cst (‘000) | HSFO 380cst (‘000) | HSFO 500cst (‘000) | Total HSFO (‘000) | % mom | % yoy |
| Jan | 0.10 | 1036.70 | 85.60 | 1122.40 | -2% | -1% |
| Feb | 0.20 | 795.90 | 128.10 | 924.20 | -18% | -8% |
| Mar | 0.00 | 962.60 | 124.90 | 1087.50 | 18% | 10% |
| Apr | 0.00 | 914.50 | 27.20 | 941.70 | -13% | -14% |
| May | 0.00 | 999.90 | 72.30 | 1072.20 | 14% | 9% |
| Jun | 0.00 | 1045.90 | 47.40 | 1093.30 | 2% | 3% |
| Jul | 0.00 | 1255.30 | 12.00 | 1267.30 | 16% | 20% |
| LOW-SULPHUR MARINE FUEL SALES (in ‘000 tonnes) | |||||||
| 2022 | LSMFO 100cst (‘000) | LSMFO 180cst (‘000) | LSMFO 380cst (‘000) | LSMFO 500cst (‘000) | Total LSFO (‘000) | % mom | % yoy |
| Jan | 460.10 | 93.00 | 2007.90 | 0.00 | 2561.00 | 3% | -14% |
| Feb | 459.60 | 93.80 | 1733.10 | 0.00 | 2286.50 | -11% | -16% |
| Mar | 555.10 | 100.60 | 1741.70 | 0.00 | 2397.40 | 5% | -15% |
| Apr | 533.00 | 111.60 | 1832.60 | 0.00 | 2477.20 | 3% | -12% |
| May | 540.20 | 103.30 | 1995.60 | 0.00 | 2639.10 | 7% | -5% |
| Jun | 382.10 | 90.40 | 1881.00 | 0.00 | 2353.50 | -11% | -14% |
| Jul | 439.10 | 57.30 | 2009.10 | 0.00 | 2505.50 | 6% | -7% |
| MARINE GASOIL BUNKER SALES (in ‘000 tonnes) | |||||
| 2022 | LSMGO (‘000) | MGO (‘000) | Total MGO (‘000) | % mom | % yoy |
| Jan | 336.10 | 13.80 | 349.90 | -2% | -8% |
| Feb | 280.50 | 10.60 | 291.10 | -17% | -26% |
| Mar | 271.80 | 9.70 | 281.50 | -3% | -19% |
| Apr | 278.60 | 7.90 | 286.50 | 2% | -13% |
| May | 375.80 | 5.80 | 381.60 | 33% | 23% |
| Jun | 272.70 | 6.90 | 279.60 | -27% | -9% |
| Jul | 313.80 | 13.70 | 327.50 | 17% | 7% |
This article contains reporting from Reuters, published under license.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
A widening conflict in the Middle East has led to dramatic swings and surges in the price of fuel for ships, prompting distributors in Singapore, the world’s top bunkering hub, to cut back their purchases.
Global shipping giant A.P. Moller – Maersk says the escalating conflict in the Middle East is beginning to disrupt global marine fuel supply chains, prompting the carrier to introduce a temporary Emergency Bunker...
A fire in the engine room of the Singapore-registered bulk carrier MANDY has resulted in the deaths of two crew members and left a third hospitalized following an incident off the coast of China.
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
