Asia/Pacific News
ANALYSIS: Singapore October Bunker Sales Jump to Nine-Month High
Marine fuel sales in Singapore, the world's largest bunkering hub, jumped to the highest level in nine months in October.
The city-state's total conventional and biofuel demand reached 4.83 million mt in October, up by 10.1% on the year, by 11% from September's level and the most since January, according to the latest data from the Maritime and Port Authority.
If the total from the first ten months of the year were to be replicated over the rest of 2024, this year's total for Singapore would reach 54.36 million mt, up by 4.9% from 2023's record high.
Product Breakdown
VLSFO sales advanced by 11.8% on the month to 2.51 million mt in October, HSFO rose by 11% to 1.82 million mt, distillates jumped by 1.4% to 351,800 mt and biofuel blends surged by 25.6% to a record 138,900 mt.
HSFO's share of the total was 37.7%, up from 33.1% the same month a year earlier.
Separately, LNG bunker sales advanced by 37.1% on the month to 50,600 mt in October -- the most since June -- while no methanol sales were recorded.
Singapore has been including columns for biofuel blends, LNG and methanol sales since June 2023.
Bunker Calls Advance
The number of vessels calling at Singapore to bunker slipped on an annual basis in October.
A total of 3,452 vessels came to Singapore's waters to bunker last month, up by 5.7% from September's level but down by 2.5% on the year.
That left the average conventional and biofuel bunker stem size last month at about 1,399 mt, the most since December 2023 and compared with an average over the previous 12 months of 1,311 mt.
Prices
Singapore's average VLSFO price in October was $596/mt, down by 1.2% from September's level and by 10.8% from the level seen a year earlier.
Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports gained 0.6% on the month and lost 10% on the year to $605.50/mt in October.
Tanker Visits Drop
The total gross tonnage visiting Singapore rose by 0.2% on the year to 263.43 million mt in October.
Among the larger groups this advance was led by the container segment, where calls by gross tonnage gained 900,000 mt. Tankers fell by 1.84 million mt, while bulker tonnage calls declined by 647,000 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.