As per the data released by the Maritime and Port Authority of Singapore (MPA), Singapore has posted another monster month of bunker sales. The data shows sales of all products for July 2016 totalled 4,115,000 metric tonnes (mt).
This data signifies that six of the first seven months of this year have seen over 4 million mt of sales, and brings the year to date total to just under 28.5 million mt. This is about 12 percent higher than the 25.3 million mt of sales for the seven month period in 2015, a year that ended with a record high annual total of 45.1 million mt of sales. This can be contrasted with the 2006’s total annual bunker sales for all products which was 28.3 million mt.
Product mix of sales (July 2016)
- IFO380 making up the majority of sales with 3,046,000 mt
- 500 cSt product is the second most popular with 857,800 mt – 20 percent of the overall total.
Average stem size: With 3,553 calls for bunkers during the month, average stem size was 1,158 mt, a fraction higher than the six-month average of 1,142 mt.
The trailing twelve month (TTM) total for all products now stands at 48.3 million mt, and gives a strong indicator that 2016 will be another record year for sales in the world’s biggest bunkering port.
The recent increase in Singapore volumes has been attributed to the collapse of Russian Far East markets. The Russian market lost their attraction as their price advantage had been eroded, neither does it look like changing anytime soon.
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Source: MPA
