Asia/Pacific News
Singapore Bunker Sales Surge to 15 Month High
July Bunker sales in Singapore surged to a 15-month high, according to the latest preliminary data from the Maritime and Port Authority of Singapore (MPA).
The monthly total for all products of 3,785,300 metric tonnes (mt) was the highest volume since April last year and 3 percent higher than the period last year, while the 7 percent gain month-on-month was the biggest such upswing since July 2014.
IFO380 sales, as usual, made up the largest proportion of overall sales with 2,906,400 mt of product sold.
Sales of 500 cSt material took a notable 6 percent dip month-on-month to 681,900 mt, making up just 18.0 percent of the overall sales volume - the lowest percentage since March 2014, which comes after a record 20.5 percent set last month.
Calls for bunkers in June rose 4.3 percent over last year's total to 3,418, a gain of 4.3 percent month-on-month.
The year-to-date total of bunkers sold now stands at 25,348,200 mt, the second highest ever total for the seven-month period and just 45,200 mt less than the record set in 2012.
The result follows unprecedented levels of fuel oil trading in June, followed by reports of a price war as "everyone is desperate to sell quickly."
