Asia/Pacific News
MPA Clarifies Methodology for Calculating Monthly Bunker Sales Volume
The Maritime and Port Authority of Singapore (MPA) has clarified to Ship & Bunker its methodology for calculating the port's monthly published bunker sales volumes.
"Our monthly bunker sales statistics are based on the volume of physical bunkers sold in the port," MPA told Ship & Bunker.
"The declarations made by licensed bunker suppliers are based on the Bunker Delivery Note used for each bunkering operation. It does not include traded volumes."
Last month MPA revealed that for August Singapore recorded its highest ever monthly volume at 4,287,800 metric tonnes (mt) for all products.
Some subsequent media reports suggested local players had expressed surprise at the record month as demand for the period had purportedly been so low that players were struggling to sell product.
"I think it depends on who you asked," experienced local player Simon Neo, Executive Director, Piroj International, told Ship & Bunker when asked if he agreed with the comments.
"Yes I think for some suppliers things could have been difficult, especially for ones that are smaller and perhaps mostly dealing with dry bulk, as that is a sector which is not doing well.
"But for the big suppliers dealing with the big box shippers? I think August was a very good month for them, but of course they would have no reason to advertise that fact."
In recent months bunker prices in many ports have fallen to multi-year lows, and in August Singapore saw its lowest bunker prices in over a decade.
Last month, when the preliminary sales figures for August were released, year-to-date sales to August stood at 29,635,800 mt, the port's highest ever total for the first eight months of a year.
