Singapore's marine bunker fuel sales in July climbed to their highest in more than one and a half years, official data showed on Thursday.
Sales at the world's largest refuelling hub for ships totalled 4.92 million metric tons in July this year, up 7.0% month-on-month and 5.7% year-on-year, data from Singapore's Maritime and Port Authority (MPA) showed.
More sales emerged as monthly container throughput hit its highest in the year at 3.87 million twenty-foot equivalent units (TEUs), based on MPA data. Vessel calls for bunkering rose 7.3% from June to 3,651 calls in July.
Market sources noted stable-to-slightly-better demand in July, though bunker premiums have remained pressured due to plentiful supplies, they added.
Sales of the mainstay 0.5% low-sulphur fuel oil (VLSFO) grade rose 2.6% from June to 2.37 million tons in June, while high-sulphur marine fuel (MFO) volumes jumped 15.3% to 1.96 million tons, MPA data showed.
Total marine gasoil sales posted a sharp uptick, climbing 42.1% to 419,900 tons for July, a record monthly high this year.
Meanwhile, sales of alternative fuels retreated after reaching a historical high in June. Total biofuel-blended volumes fell 23.1% to 120,100 tons in July, while liquefied natural gas bunker sales slid 25.0% to 41,500 tons.
(Data from Maritime and Port Authority of Singapore)
(Figures are based on latest available data and may be subject to revision at a later date, based on the MPA)
(Reuters)