Asia/Pacific News
Singapore Bunker Sales Rise to Record High
Singapore bunker sales grew for a third successive month making May 2012 an all-time high of 3,985,700 metric tonnes (mt) for all products, Maritime and Port Authority of Singapore (MPA) data has shown.
The total surpasses Singapore's previous high of 3,859,200 mt achieved in June last year.
The month-on-month gain of 6.7% also takes the average sales per month so far for 2012 to 3.618 million mt, marginally above 2011's average for the year, and current best, of 3.596 million mt.
Volumes for 380 centistokes (cSt) grade fuel rose 5.4% to 3.145 million mt making it a third consecutive month of gains after dipping for the first two months of the year.
It was the forth consecutive volume increase for 500 cSt which was back to a double-digit percentage gain, rising 14.8% to 591,500 mt after last month's rise of 5.8% to 515,300 mt.
Although less than March's jump of 19.6%, it took the total for the product to a high of at least 17 months.
180 cSt product took its biggest jump since at least January 2011 rising 13.5% to 117,500 mt, while MGO sales slipped down 1.2% to 128,400 mt.
The announcement follows plummeting bunker prices during May, with Ship & Bunker data showing IFO380 in Singapore dropped $91.50 for the month from $718.00 to $626.50 (12.7%) with a peak of $719.50 per metric tonne (pmt) on May 2nd.
