Asia/Pacific News
Singapore Sets New Records as Bunker Sales Continue to Soar
Singapore set more records in May as marine fuel sales continued to soar, according to the latest preliminary data from the Maritime and Port Authority of Singapore (MPA).
Headline figures for May show sales for all products hot 4.28 million metric tonnes (mt), up 2.5% compared to 4.18 million mt in May last year.
This put year-to-date sales for 2018 at 21.4 million mt, both a record high for the period and the first time the port has sold over 21 million mt during the first five months of a year.
Within the portfolio of fuels sold at the port, May sales of 500 cSt grade material were up while sales of 380 cSt were down.
The former tipped a million mt, a record high for the product and the first time sales have passed the phycological significant milestone.
In contrast, sales of the key 380 CST grade hit a three-month low coming in below the 3 million mt mark at 2.95 million mt.
But as overall volumes rise, calls for bunkers continue to fall, dropping to 3,237 for the month compared to 3,513 in May 2017.
This put the average stem size at 1,323 mt, well above the 12 month average of 1,280 mt.
Singapore is the world's biggest bunkering destination with annual fuel sales of over 50 million mt.
