World News
Singapore Annual Bunker Sales Drop to Four-Year Low
Bunker fuel sales in Singapore, the world's largest marine fuels hub, sank to the lowest level in four years in 2019, according to the country's Maritime and Port Authority (MPA).
Total sales dropped by 4.7% to 47.464 million mt last year, the least since 2015.
Sales rose in December as shipowners shifted to buying 0.50% sulfur fuels, with preliminary estimates showing a total for the month of 4.466 million mt, the most since January 2018.
Demand for low-sulfur fuels -- encompassing the MPA's marine gasoil, low sulfur 380cst and low sulfur 180cst categories -- totalled 3.127 million mt last month, taking up 70% of total consumption and up from 2.076 million mt in November.
Meanwhile high sulfur 180cst, 380cst and 500cst fuel oil demand sank by 33% on the month to 1.272 million mt in December, or 28% of total demand.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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