- Singapore bunker sales in March rises
- The bunker sales is unexpected and unhurt by the Covid-19
- Total sales reaches a high of 4.332 million mt in March
Despite the effect of the COVID-19, there is an unforseen rise in bunker sales during the month of March in Singapore, reports Ship and Bunker in a news article.
March sees a steep gain in bunker sales
- Total sales rose to 4.332 million mt in March.
- The sale of bunker was up by 11.41% from February and by 5.66% from March 2019.
Though the impact of virus on shipping industry was to the maximum. This incredible sale of the bunker as well as the gain seems to be surprising for the bunker industry.
Whereas, crude prices saw a nosedive in March due to the falling-out in the OPEC+ coalition. This would have prompted some shipowners to buy more bunkers than they would have otherwise.
Bunkering surged by 7.14%
Calls at the port for bunkering surged by 7.14% from a year earlier to 3,557 ships. It implies that the average stem size slipped by about 17 mt on the year to about 1,215 mt.
Very low sulfur fuel oil and 0.5% sulfur gasoil and diesel sales climbed by 9.17% from February’s levels to 3.055 million mt in March, while high sulfur fuel oil (HSFO) sales advanced by 19.12% to 738,400 mt.
Sales of 0.1% sulfur gasoil and ultra low sulfur fuel oil gained 5.52% on the month to 485,400 mt, the Singapore’s Maritime and Port Authority said.
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Source: Ship and Bunker
