- Sales of marine fuels at the port of Singapore totalled 4.07mn t in May, down by around 4pc or 185,000t from April.
- But the May sales were 147,000t higher than a year earlier.
According to an article published in Argus Media, Sales of marine fuels at the port of Singapore totalled 4.07mn t in May, down by around 4pc or 185,000t from April, according to preliminary data from Singapore’s Maritime and Port Authority (MPA).
VLSFO Sales
Sales of very low-sulphur fuel oil (VLSFO) reached 2.78mn t in May, down from 2.81mn t in April. Consumption of the 380cst grade dipped below 2mn t for the first time since June 2020, while demand for the 100cst and 180cst grades rose by 15pc and 20pc from April respectively.
Market participants noted that differences in viscosity generally do not lead to differences in prices.
LSMGO Sales
“I doubt most suppliers concentrate on declaring strictly according to the viscosity they have onboard,” a local trader said.
Low-sulphur marine gasoil (LSMGO) sales fell to 281,000t in May from 298,000t in April. Sales of high-sulphur fuel oil (HSFO) also fell to 985,000t in May from 1.09mn t in April.
Premium Oil Trade
The premium of VLSFO to HSFO, also known as the scrubber or Hi-5 spread, reached $113/t in May, largely unchanged from an average of $112/t in April, according to Argus data.
Bunker Vessels Deals
A total of 3,350 vessels called at the Singapore port to refuel in May, down from 3,458 vessels in April, according to MPA data. This translates to an average stem size of 1,215t.
Argus reported a daily average of 9.5 spot bunker deals in May — six for VLSFO, two for LSMGO and 1.5 for HSFO.
Average Data
Singapore’s delivered VLSFO, LSMGO and HSFO prices averaged $491/t, $554/t and $379/t in May compared with $488/t, $520/t and $376/t in April respectively, according to Argus data.
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Source : Argus Media
