Marine fuel sales at the world's largest bunker hub of Singapore posted a strong start to 2026, driven by healthy demand and higher price premiums, based on port data and trade sources.
January 2026 volumes totalled 5.23 million metric tons, up 16.5% year-on-year, though easing from the record monthly highs of 5.51 million tons in December, data from the Maritime and Port Authority of Singapore (MPA) showed.
Container throughput at Singapore dipped 0.7% from the prior month to 3.89 million twenty-foot equivalent units (TEUs) in January, while vessel calls for bunkering held firm, climbing 1.5% to 3,778 calls, per MPA data.
Bunker market sources in Singapore said that spot demand was largely healthy in January this year, which is also typically a strong month for seasonal demand ahead of Lunar New Year.
Volumes for 0.5% low-sulphur fuel oil (VLSFO) totalled 2.56 million tons in January, down 9.5% from December but higher year-on-year, while high-sulphur marine fuel volumes were up 2.0% from December at 2.16 million tons.
Barging schedules were overall tighter, which in turn propped up price premiums that have been stagnant for many months, some traders said.
Singapore delivered-basis bunker premiums for prompt deliveries rose to above $20 a metric ton to cargo quotes by end-January, compared with low $10s in early-January, according to market sources.
Meanwhile, marine gasoil sales dipped slightly month-on-month, down 2.3% at 404,100 tons.
Sales of alternative fuels retreated, with marine biofuel volumes sliding 33.9% to 60,200 tons in January, while liquefied natural gas bunker sales fell 22.0% to 42,600 tons.
Some industry observers have warned that the delay in a formal net-zero framework for shipping could dampen uptake of low-carbon marine fuels, though shipping companies and suppliers have said they will stay the course for green investments.