Image Credit: Ship & Bunker / Data Credit: MPA

• May bunker sales were down on the year, but up from April
• Total sales remained below March volumes, when the Iran war start boosted bunker demand
• VLSFO sales were down 6.5% on the year, while HSFO down 5.2%
• Biofuel sales dropped for the third consecutive month, despite record B100 sold in May
• LNG bunker sales rose to the highest level since January 2023
• No methanol sales recorded since February 2026

May marine fuel sales in Singapore, the world's largest bunkering hub, rose from April levels but remained below the volumes recorded a year earlier.

The city-state's total demand for conventional and biofuels in May reached 4.48 million mt, down 7.4% from last year but up 3.9% from April’s volume, according to data released on Monday by the Maritime and Port Authority of Singapore (MPA).

The May total remained below the 4.72 million mt recorded in March, when the outbreak of the Iran war helped boost bunker demand in Singapore.

Despite the weaker year-on-year performance in May, sales over the first five months of 2026 reached 23.3 million mt, up 5% from 22.2 million mt in the same period last year.

Singapore saw a record annual total of marine fuel sales of 56.2 million mt in 2025.

If the first five months' sales levels were repeated across the whole of the year, this year's total would reach 55.91 million mt, down by 0.5% on the year.

Product Breakdown

VLSFO sales were 2.29 million mt in May, down 6.5% on the year, but up by 4.7% from volumes recorded in April.

HSFO sales totalled 1.79 million mt in May, down 5.2% on the year, but were slightly up by 0.4% from April levels.

Distillate sales gained sharply on the month to 328,200 mt in May – up 28.2% from April, but down 4.6% on the year.

The sharp monthly rise in distillate sales came as MGO prices eased from the highs seen at the start of the Iran war, when fears of supply disruption drove prices higher.

Marine biofuel demand declined for the third consecutive month in May.

Biofuel blend volumes totalled 60,800 mt – the lowest since January 2026 – and down 56.9% on the year and 18.3% on the month.

The total included 12,800 mt of B100 sales, the highest monthly volume since records began in January 2025.

LNG bunker sales - which this article counts separately from the conventional and biofuel bunker total reported above – rose to the highest level since January 2023.

May LNG bunker sales totalled 70,300 mt, an increase of 56.2% on the year and 65.8% on the month.

No methanol or ammonia bunker sales were recorded in May. Methanol sales have not been reported since February.

Bunker Calls Rise on Both Yearly and Monthly Basis

In May, Singapore saw a total of 3,690 calls for bunkers, up by 1.5% from last year and 7.3% from the previous month of April.

That left the average conventional and biofuel bunker stem size at about 1,214 mt in May, down from 1,253 mt in the previous month and a 12-month average of 1,329 mt.

Prices

Singapore's average VLSFO price in May was $825/mt, according to Ship & Bunker prices, compared to $511/mt last year and $776/mt in April 2026.

Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports was $900/mt in May, up from $529.5/mt last year and $889.5/mt in April.

Looking ahead, bunker prices may come under pressure in June following the latest US-Iran agreement aimed at reopening the Strait of Hormuz.

However, the market could remain volatile if negotiations stall or the agreement fails to hold.

Container and Tankers Calls by Tonnage Increase While Bulkers Drop

Image Credit: Ship & Bunker / Data Credit: MPA

The total gross tonnage visiting Singapore inched up by 1.1% on the year to 278 million GT in May.

Container gross tonnage rose by 1.5 million GT on the year and tankers 506,000 GT, while bulker tonnage dropped by 930,000 GT in May.

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 eliminating volumetric malpractice.

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