ANALYSIS: Higher HSFO Demand Pushes Singapore July Bunker Sales to 18-Month High

HSFO's share of the total July bunker fuel sales was 41.3%, up from 38.9% the same month a year earlier. Image Credit: Ship & Bunker / Data Credit: MPA

Marine fuel sales in Singapore, the world's largest bunkering hub, in July rose to its highest level since January 2024 amid higher HSFO demand.

The city-state's total conventional and biofuel demand reached 4.88 million mt in July, up by 5.4% on the year and by 7.4% from June's level, according to the latest data from the Maritime and Port Authority.

If the total from the first seven months of the year were to be replicated over the rest of 2025, this year's total for Singapore would reach 54.19 million mt, down by 0.5% from 2024's record high.

Product Breakdown

VLSFO sales were down by 4.5% on the year to 2.37 million mt, but still up by 2.6% from June's level. HSFO sales reached a record high of 1.96 million mt in July, up by 10.3% on the year and by 15.3% from June's level.

Distillate sales jumped by 35.9% on the year and 14.5% from June's level. On the other hand, biofuel blends sales dipped by 23% on the month to 120,200 mt in July.

HSFO's share of the total was 41.3%, up from 38.9% the same month a year earlier. Meanwhile, VLSFO's share of the total shrank from 54.3% to 49.9%. 

Separately, LNG bunker sales dropped to 41,500 mt in July – down by 3.9% on the year and a significant 25% drop from the peak June level.

No methanol or ammonia sales were recorded in July.

About 2,600 mt of B100 was sold in July, up from 1,000 mt recorded in June.

Bunker Calls Advance

The number of vessels arriving at Singapore for bunkering increased both monthly and yearly basis in July.

A total of 3,651 vessels came to Singapore's waters to bunker in July, up by 2.6% on the year and about 7.3% from June's level.

That left the average conventional and biofuel bunker stem size last month at about 1,336 mt, compared with an average over the previous 12 months of 1,315 mt.

Prices

Singapore's average VLSFO price in July was $524/mt, down by 1.5% from $532/mt in June.

Ship & Bunker's G20-VLSFO Index of July average prices across 20 leading bunkering ports was almost unchanged on the month at $553/mt.

Container and Bulker Visits Increase

More container and bulker calls were made during the month. Image Credit: Ship & Bunker / Data Credit: MPA

The total gross tonnage visiting Singapore jumped by 6.5% on the year to 281.54 million mt in July.

This growth was primarily driven by the container and bulker segments, with container calls by gross tonnage increasing by 8.5 million mt.

Bulk carrier tonnage rose by 4.8 million mt, while tanker tonnage calls saw a more modest increase of 890,000 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 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.