Singapore’s bunker sales hit 10-month low in April

Market: Oil products
15/05/24

Singapore's April bunker sales fell to a 10-month low on weak very-low sulphur fuel oil (VLSFO) demand. But consumption of high-sulphur fuel oil (HSFO) and B24 biofuel bunkers remained firm.

Singapore VLSFO bunker sales fell to at least a 15-month low of 2.25mn t in April, according to data from the Maritime and Port Authority of Singapore. This came because of slower demand as more buyers turned to lower-priced HSFO.
Singapore HSFO sales accounted for a 42pc share of total fuel oil sales in April, up from a 31pc share a year earlier.
Disruptions in the Red Sea led to increased fuel usage by ocean-going vessels with higher rates of scrubber technology adoption, raising demand for HSFO by a greater extent than for VLSFO.
Consumption of bio-blended VLSFO, or B24, climbed by 61pc on the year because buying interest gained traction, but slipped by 10pc from strong consumption in March.
LNG bunker sales rose by over sixfold on the year but edged down from a record high in March.

By Cassia Teo and Asill Bardh

Singapore bunker sales					000t
	Apr-24	m-o-m ± %	y-o-y ± %	Jan-Apr 2024	± %

Low-sulphur fuel oil (LSFO)	2,252	-6.9	-16	10,088	-2.2
Marine fuel oil (MFO)	1,600	0.0	31	6,466	32
Low-sulphur MGO (LSMGO)	277	-11.0	-11	1,201	-3.0
Bio-blended LSFO	60	-10.0	61	186	53
Liquified natural gas (LNG)	36	-7.9	582	111	N/A
MGO	9.7	88.0	-37	43	-9.2
Marine diesel oil (MDO)	0.0	N/A	N/A	0.0	N/A
Bio-blended MDO	0.0	N/A	N/A	0.0	N/A
Bio-blended marine gasoil (MGO)	0.0	N/A	N/A	0.0	N/A
Bio-blended LSMGO	0.0	N/A	N/A	0.0	N/A
Bio-blended MFO	0.0	N/A	-100	0.0	-100
Ultra low sulphur fuel oil (ULSFO)	0.0	N/A	N/A	0.0	N/A
Bio-blended ULSFO	0.0	N/A	N/A	0.0	N/A
Methanol	0.0	N/A	N/A	0.0	N/A
Total	4,235	-4.7	-0.6	18,096	8.9
Source: MPA

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