Singapore October bunker fuel sales rose 8.3% month on month to a one-year high of 4.251 million mt, preliminary data from the Maritime and Port Authority of Singapore showed Nov. 13.

The sales were mostly steady year on year and compared with 4.255 million mt in October 2021. Marine fuel sales at the world’s largest bunkering hub were last higher at 4.503 million mt in January 2021. Singapore’s total bunker sales nudged above 4.250 million mt only in April 2021 at 4.257 million mt, according to the data.

A surge in high sulfur bunker fuel sales led to the month-on-month increase in October sales.

Sales of the high sulfur grades, including 380 CST, 500 CST, and 180 CST bunker fuel, climbed 17.6% month on month to 1.311 million mt, the highest monthly volume since the International Maritime Organization’s 0.5%S marine fuel mandate became effective January 2020. October high sulfur bunker fuel sales rose 11% from 1.182 million mt in October 2021.

October high sulfur bunker sales accounted for 30.9% of the total sales, the biggest share since the IMO-2020 mandate. High sulfur bunker sales made up 28.1% of the total sales in September and 27.8% in October 2021. High sulfur bunker sales as a percentage of the total sales were last higher at 29.9% in August, MPA data showed.

Sales of IMO-compliant marine fuel rose 4.6% month on month and 4.4% year on year to a five-month high of 2.586 million mt in October. October low sulfur bunker fuel accounted for 60.8% of the total sales, compared with 62.3% in September and 63.6% a year ago. Since the IMO-2020 mandate, the share of low sulfur bunker sales was only lower in July at 60.8%.

Sales of low sulfur marine gasoil, which has a maximum sulfur content of 0.1%, fell 7.4% month on month and 1.1% year on year to a four-month low of 305,100 mt.

The number of vessels that bunkered in Singapore rose 8.8% from September and 8.4% on the year to an 18-month high of 3,431 in October, according to MPA data.

Agencies

Marex Media