Asia/Pacific News
Singapore's Annual Bunker Sales Volume Mostly Flat for a Third Year
Annual bunker sales in Singapore for 2014 remained largely flat year-on-year, according to the latest preliminary data from the Maritime and Port Authority of Singapore (MPA).
The total sales for all products in December was 3,577,500 metric tonnes (mt), putting the 2014 total at 42.4 million mt, slightly behind the 42.7 million mt sold in both 2012 and 2013.
December's sales volume in the world's biggest bunkering port by volume were subject to even greater than usual speculation following the November collapse of OW Bunker, which involved an alleged $125 million fraud at the bunker company's Singapore-based subsidiary Dynamic Oil Trading (DoT).
Reports from the city state in the immediate aftermath ranged from "complete chaos" caused by credit lines being cut to their absolute minimum, to the MPA saying minimal disruption would be caused.
But as with the port's November sales, any impact from the fallout of OW Bunker and DoT were not reflected in Singapore's bunker sales figures, with December volumes actually slightly up month-on-month.
As usual IFO380 was the port's most popular product, with sales up 1 percent month-on-month to 2.68 millon mt.
500 cSt product for the month dipped 4.1 percent to 680,300 mt, while LS380 product, which from January 1, 2015 no longer meets Emissions Control Area (ECA) rules, predictably fell over 70 percent to 3,500 mt.
Calls for bunkers remained fairly steady at 3,102 compared to 3,119 last month and 3,193 in December 2013.
