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

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