Asia/Pacific News
Singapore: August Bunker Sales Down by 9%
August bunker sales at Singapore fell by 9% compared to the same month a year ago.
Total sales in the southeast Asian bunkering hub missed the 4 million metric tonne (mt) mark coming in at 3,962,900 mt compared to 4,363,600 mt 12 months ago.
Noticeable in the breakdown of sales by grade of fuel is the decrease in 380 centistoke (cSt) bunker fuel, the port's biggest seller.
Sales of the high sulfur fuel grade fell from 3.2 million mt to 2.8 million mt over the period.
Sales of marine gasoil were also down over the period, losing 10,000 mt.
Whether the lower sales figure for 380 CST is related to the coming International Maritime Organisation 0.5% sulfur cap is unclear. However, anecdotally traders say that players are building up stocks of fuel ahead of the change which comes into force in 16 months' time.
