Singapore Posts Record H1 Bunker Sales Despite Surprise Slump in June

Thursday July 13, 2017

Singapore has posted its best ever H1 bunker sales, despite a surprise slump in monthly sales for June, the latest preliminary data from the Maritime and Port Authority of Singapore (MPA) shows.

June sales for all products totalled 3,836,300 metric tonnes (mt), the lowest level since September 2016, putting the total sales for the first six months of 2017 at a record 24,920,700 mt - 2% higher than the previous H1 record set last year.

The surprise slump in June sales of 6.8% YoY was compounded by the fact that politics surrounding the recent sanctions on Qatar had been expected to favour Singapore's bunker players at the expense of those in Fujairah.

Still, as IFO380 sales for the month made up their usual majority share of the total with 2,784,500 mt sold, sales of 500 cSt product hit 882,000 mt.

While not a record in itself, it represented a record high 23% of overall sales.