Singapore Breaks More Bunker Records: Posts Highest Ever February Sales Volume, YTD Sales Jump Up 8%

Monday March 13, 2017

After Singapore posted its highest monthly sales volume ever in January 2017, the latest preliminary data from the Maritime and Port Authority of Singapore (MPA) shows last month the port recorded the highest ever February sales total with 3,846,400 metric tonnes (mt) sold for all products.

The February total is up 9.6 percent over the previous record set last year.

Sales of IFO380 made up the majority of the volume with 2,918,400 mt sold.

Sales of 500 cSt material, the port's second most popular product, totalled 711,300 mt representing 18.5 percent of the overall total - down slightly on the more typical 20 percent of overall monthly sales.

There were 3,218 calls for bunkers last month, down 1.7 percent on the 3,273 calls recorded in February last year, but the average stem size rose to 1,195 mt, compared to 1,072 mt last year, which is also comfortably above the 12-month average stem size of 1,164 mt.

The performance means year to date sales for the first two months of the year are 8,308,600 mt; not only is this the first time ever the port has recorded more then 8 million mt in sales for the first two months of the year, the amount is 8 percent higher than the same period last year - a year that ended with an all time record 48.6 million mt of total sales.

Presumably, the performance also puts an end to speculation that the January 1, 2017 introduction of mandatory mass flow meters (MFMs) for bunkering in Singapore would cause a drop in bunker volumes at the world's biggest bunker port.

And while it is too early to speak of what the full year performance will bring, the foundations for a record 50+ million mt year have clearly be laid.