Asia/Pacific News
Singapore Posts Another Monster Month of Bunker Sales
Singapore has posted another monster month of bunker sales, with the latest preliminary data from the Maritime and Port Authority of Singapore (MPA) showing sales of all products for July 2016 totalled 4,115,000 metric tonnes (mt).
It means 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 - some 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.
For contrast, 2006's total annual bunker sales for all products was 28.3 million mt.
July 2016 was business as usual for the product mix, with IFO380 making up the majority of sales with 3,046,000 mt sold, and 500 cSt product the second most popular with 857,800 mt of sales - a typical 20 percent of the overall total.
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.
More importantly, a lot of the recent increase in Singapore volumes has been attributed to the collapse on Russian Far East markets, no longer attractive having had their price advantage eroded, and that is a situation that does not look to be changing any time soon.
