Singapore 2023 conventional bunker sales rose 7% on the year
Singapore’s total conventional bunker sales surged to a multi-year high of 51.27 million mt in 2023.
Monthly Singapore bunker sales since January 2019
Changes in bunker sales between 2022 and 2023:
- Total sales up 3.39 million mt to 51.27 million mt
- VLSFO sales up 651,000 mt to 30.79 million mt
- HSFO sales up 2.95 million mt to 16.63 million mt
- MGO sales down 18,000 mt to 3.77 million mt
Singapore’s total conventional bunker sales rose by 7% on the year, partly due to more vessels arriving for bunkers. A total of 41,438 vessels arrived for bunkers in 2023, up from 37,662 vessels in 2022.
HSFO sales in 2023 climbed by a massive 22% on the year, and to their highest level since the IMO’s 0.50% sulphur cap came into effect. VLSFO sales also increased by 2% in 2023. On the other hand, MGO remained broadly steady with 2022.
Equatorial Marine was Singapore's biggest bunker supplier by volume for the second straight year in 2023. TFG Marine and Sinopec Fuel Oil were the second and third biggest bunker suppliers by volume in 2023, according to the annual official ranking published by the MPA.
The MPA does not publish the exact bunker fuel volumes sold by individual companies.
Bunker fuel sales by grade in 2023
Fuel grade share of total sales in 2023 (compared to 2022):
- 60% VLSFO (63%)
- 32% HSFO (29%)
- 7% MGO (8%)
By Tuhin Roy
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