Marine fuel sales in Singapore recovered to hit 16-month highs in May, official data showed on Monday.
Volumes at the world's largest bunker hub for ships totalled 4.88 million metric tons, up 10.8% month-on-month and 1.1% higher year-on-year, according to data from the Maritime and Port Authority of Singapore (MPA).
The uptick emerged as more vessels arrived in Singapore for container movements and bunkering.
"Container throughput is at the highest in the year to date, likely due to front-loading shipments after the tariff pause on May 12," said Ivan Mathews, head of APAC analysis at shipping analytics firm Vortexa.
MPA data showed that container throughput climbed 5.5% month-on-month, hitting 3.83 million 20-foot equivalent units (TEUs) in May, while vessel calls for bunker edged 3.8% higher at 3,637 calls.
Trade sources said that the jump was higher than expected, with several suppliers noting lower sales volumes in May and June to-date from their end, while bunker premiums have also been stable-to-softer through the second quarter.
"It is very bad, premiums-wise. More shipping companies are cautious to buy bunkers now," a fuel oil trader said, adding that bunker prices have surged in line with crude oil prices in recent sessions.
Sales of the mainstay 0.5% low-sulphur fuel oil (VLSFO) grade have risen 9.7% from April to 2.45 million tons in May, while high-sulphur marine fuel (MFO) volumes gained 11.3% at 1.89 million tons, MPA data showed.
Total marine gasoil sales were at 344,100 tons for May, up 9.3% month-on-month.
Meanwhile, sales of alternative fuels climbed. Total biofuel-blended volumes rebounded in May, climbing 26.8% at 140,800 tons, while liquefied natural gas bunker sales rose 7.2% to 45,000 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 MPA)
(Reuters)
