ANALYSIS: Singapore April Bunker Sales Gain 3.9% on Year Despite Tariff Turmoil

Singapore's bunker sales look unfazed by the tariff crisis thus far. Image Credit: Ship & Bunker / Data Credit: MPA

Marine fuel sales in Singapore, the world's largest bunkering hub, jumped on an annual basis last month despite the shipping-industry turmoil raised by volatile trade policy in the US.

The city-state's total conventional and biofuel demand reached 4.36 million mt in April, up by 3.9% on the year but down by 1.5% from March's level, according to the latest data from the Maritime and Port Authority.

If the total from the first four months of the year were to be replicated over the rest of 2025, this year's total for Singapore would reach 52.1 million mt, down by 4.4% from 2024's record high.

Product Breakdown

VLSFO sales declined by 4.1% on the month to 2.24 million mt in April. HSFO rose by 5% to 1.7 million mt, distillates fell by 5.7% to 314,700 mt and biofuel blends sank by 23.7% to 111,100 mt.

HSFO's share of the total was 39%, up from 38.1% the same month a year earlier.

Separately, LNG bunker sales jumped by 7.7% on the month to 42,000 mt in April - the most since December - while no methanol or ammonia sales were recorded.

Singapore has been including columns for biofuel blends, LNG and methanol sales since June 2023, and added columns for B100 and ammonia at the start of 2025.

Bunker Calls Advance

The number of vessels calling at Singapore to bunker advanced on yearly basis in April.

A total of 3,504 vessels came to Singapore's waters to bunker last month, up by 3.4% on the year but down by 0.5% from March's level.

That left the average conventional and biofuel bunker stem size last month at about 1,245 mt, compared with an average over the previous 12 months of 1,307 mt.

Prices

Singapore's average VLSFO price in April was $501/mt, down by 3.1% from March's level and by 22.8% from the level seen a year earlier.

Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 4.5% on the month and 20.8% on the year to $529.50/mt in April.

Bulker Visits Rise

Bulkers saw a rise in tonnage visiting Singapore last month. Image Credit: Ship & Bunker / Data Credit: MPA

The total gross tonnage visiting Singapore jumped by 4.2% on the year to 260.8 million mt in April.

This advance was led by the bulker segment, where calls by gross tonnage gained 7.7 million mt. Containers rose by 5 million mt, while tanker tonnage calls declined by 4.3 million mt.

The mandatory mass flow meter systems used to measure all bunker deliveries in Singapore come with a +/-0.5% margin of error, a level considered more accurate than traditional measurement systems used at most other ports with the added benefit of all but eliminated volumetric malpractice.

Only licensed companies can supply bunkers in Singapore, and the MPA calculates sales based on the bunker delivery notes of those companies.