News Business Singapore Marine Bunker Sales: A Softening Trend
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Singapore Marine Bunker Sales: A Softening Trend

May 15, 2024

By Jeslyn Lerh

Singapore's marine bunker sales declined for a fourth consecutive month in April, according to official data from Singapore's Maritime and Port Authority. Let's delve into the details:

Overview

In April, marine bunker sales in Singapore totalled 4.24 million metric tons, down 4.7% from March. This decline marks the first annual decrease in four months, indicating a potential easing of geopolitical shipping tensions compared to the beginning of the year.

Factors at Play

During the first quarter, total bunker sales were higher year-on-year due to stronger demand caused by Red Sea shipping disruptions. These disruptions led to longer voyages for some vessels, boosting the need for refuelling services in Singapore.

Fuel Types

Here's a breakdown of bunker fuel sales in April:

  • Low-sulphur fuel oil (LSFO): 2.25 million tons (down 6.9% from March)
  • Marine gasoil (MGO): 287,100 tons (down 8.9% from March)
  • High-sulphur marine fuel oil (MFO): 1.60 million tons (largely stable from March)
  • Liquefied natural gas (LNG): 35,600 tons (down 7.9% from March)
  • Marine biofuel: 59,600 tons (down 9.8% from March)

While LNG sales experienced a decline, industry sources expect demand for LNG to power ships to improve throughout the year as more dual-fuel vessels join the global fleet.

Conclusion

The softening trend in Singapore's marine bunker sales reflects broader changes in vessel refuelling demand. As the industry adapts to evolving dynamics, keeping an eye on fuel consumption patterns remains crucial.

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