Bunker Sales Plummet in Singapore

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Credit: Chris Pagan/Unsplash

Despite a decline in bunker sales volumes in Singapore for June 2023, the overall marine fuel sales for the first half of the year exceeded 25 million mt, ensuring that the world’s largest bunkering hub remains on track to achieve its typical annual bunker sales of 50 million mt.

Sales declined 

According to preliminary data from the Singapore Maritime and Port Authority (MPA), traditional bunker sales in Singapore, including biofuel blends, declined by 13% in June. The total sales volume consisted of 1,237,500 mt of HSFO, 2,358,800 mt of VLSFO, and 283,500 mt of distillates. Biofuel blends accounted for the remaining 35,300 mt of sales. Bunker calls in June decreased by 7.2% to 3,369, with an average stem size of 1,162 mt, the lowest since June 2021. On a positive note, June recorded the highest monthly sales of LNG bunkers since records began 18 months ago, totalling 17,900 mt. Including LNG bunkers, the total sales for all products in June reached 3,932,900 mt.

H1 2023 Sees Surge

The Singapore Maritime and Port Authority (MPA) has included LNG sales in the revised bunker totals for previous months, affecting volumes across 2022 and 2023. In H1 2023, LNG bunker sales reached 36,900 mt, surpassing the 16,300 mt sold in the entirety of 2022. The highest recorded annual LNG bunker sales to date were 49,200 mt in 2021. Traditional bunkers accounted for H1 2023 sales of 25,033,300 mt, including 7,562,900 mt of HSFO, 15,369,000 mt of VLSFO, 1,909,300 mt of distillates, and 192,300 mt of biofuel blends.

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Source: Ship&Bunker