Asia/Pacific News
ANALYSIS: Singapore November Bunker Sales Gain 4.2% on Year
Marine fuel sales in Singapore, the world's largest bunkering hub, climbed on a yearly basis in November while dropping consecutively from October's nine-month high.
The city-state's total conventional and biofuel demand reached 4.44 million mt in November, up by 4.2% on the year, but down by 8.1% from October's level, according to the latest data from the Maritime and Port Authority.
If the total from the first eleven months of the year were to be replicated over the rest of 2024, this year's total for Singapore would reach 54.26 million mt, up by 4.7% from 2023's record high.
Product Breakdown
VLSFO sales declined by 4.6% on the month to 2.4 million mt in November, HSFO fell by 13.1% to 1.58 million mt, distillates slipped by 3.8% to 338,300 mt and biofuel blends sank by 16.8% to 115,500 mt.
HSFO's share of the total was 35.7%, down from 36.2% the same month a year earlier.
Separately, LNG bunker sales declined by 45.7% on the month to 27,500 mt in November -- the least since January -- 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 both a monthly and yearly basis in November.
A total of 3,296 vessels came to Singapore's waters to bunker last month, down by 4.5% from October's level and by 3.2% on the year.
That left the average conventional and biofuel bunker stem size last month at about 1,346 mt, compared with an average over the previous 12 months of 1,319 mt.
Prices
Singapore's average VLSFO price in November was $573/mt, down by 3.9% from October's level and by 16.4% from the level seen a year earlier.
Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 2.8% on the month and 11.9% on the year to $588.50/mt in November.
Tanker Visits Drop
The total gross tonnage visiting Singapore sank by 4.8% on the year to 252.96 million mt in November.
This decline was led by the container segment, where calls by gross tonnage lost 4.7 million mt. Bulkers fell by 4.2 million mt, while tanker tonnage calls declined by 4 million 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.
About Jack Jordan
Jack Jordan is the Managing Editor of Ship & Bunker, the world’s most read marine fuel-focused publication.
He is an experienced financial editor and reporter with a first-class degree in Arabic and Russian, a postgraduate diploma in newspaper journalism and several years' history of covering the oil and shipping industries and capital markets.
Jack is based in London, UK.
About Ship & Bunker
Ship & Bunker is the world's most read publication focused on the marine fuel markets. Completely independent, it is the leading industry authority providing comprehensive daily news, exclusive in-depth features and analysis, along with daily & historical bunker price indications.
To contact the editor responsible for this story email us at editor@shipandbunker.com
