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SINGAPORE DATA: April bunker sales fall 12% on year to 3.74 million mt: MPA

Bunker fuel sales in Singapore fell 12.1% year on year to 3.74 million mt in April, according to preliminary data released May 13 by the Maritime and Port Authority of Singapore.

Sales were down 0.7% month on month.

Sales of both high sulfur and low sulfur fuel oil bunkers reversed gains in March, according to MPA data, despite higher vessel arrivals.

Weaker bunker sales in April were largely attributed to concerns around fuel contamination in HSFO as well as limited cargo availability for both HSFO and LSFO.

Market participants said higher bunker prices had also led to quicker utilization of credit lines, preventing some owners from taking larger stems.

The number of bunker-only calls in April increased marginally by 0.2% month on month but fell 12.5% year on year, the MPA data showed, while total vessel arrivals rose 4.1% month on month to a 12-month high of 7,608.

Sales of International Maritime Organization-compliant grades, which include 100 CST, 180 CST, 380 CST and 500 CST bunker fuel, rose 3.3% month on month to 2.48 million mt in April.

LSFO sales accounted for 66.2% of total sales, 2.6 percentage points below March and 0.1 point lower on year.

The premium for Singapore-delivered marine fuel 0.5% over the benchmark Singapore 0.5% marine fuel cargo assessment averaged $32.35/mt in April, up 38% from March on the back of tight availability, with some sellers quoting as far as 14 days forward.

“Not only is cargo limited, loading slots for barges are also not easy to get. Some owners who require fuel for prompt delivery have had to channel their enquiries to ports where deliveries on earlier loading dates can be fulfilled” said a trader.

Sales of high sulfur bunker fuel, which includes 180 CST, 380 CST and 500 CST, dropped 13% month on month to 0.94 million mt, the MPA data showed, slightly below the monthly average of around 1 million mt.

Sales of HSFO 500 CST in April fell 78% month on month to 27,200 mt, the lowest since March 2021.

HSFO sales were hurt by reports of contaminated fuel sold in Singapore.

Around 300,000 mt of fuel was said to be contaminated, according to market sources, resulting in wide demand supply gap.

Sales of low sulfur marine gasoil — which has a maximum sulfur content of 0.1% — totaled 278,600 mt in April, up 2.5% month on month but 6.5% lower year on year.
Source: Platts

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