Singapore conventional bunker sales edged higher in March amid the Middle East crisis
Higher vessel arrivals for bunkering amid the Middle East crisis, along with increased VLSFO and HSFO sales, lifted the port’s total bunker sales in March.
Changes in bunker sales from February to March:
- Total sales up 105,000 mt to 4.62 million mt
- VLSFO sales up 28,000 mt to 2.34 million mt
- HSFO sales up 101,000 mt to 1.93 million mt
- MGO sales down 22,000 mt to 352,000 mt
In March, HSFO sales in the Port of Singapore rose by 5%, while VLSFO sales edged up by 1%. In contrast, MGO sales declined by 6% over the same period.
Around 3,502 vessels received bunkers in the port, an increase of 79 from 3,423 in February, according to preliminary data from Maritime and Port Authority of Singapore.
The Middle East conflict has disrupted trade flows through the Strait of Hormuz - a key route for global oil shipments - and also affected bunkering capacity and operations in the region. As a result, more vessels have opted to call at Asian ports, including Singapore.
“Demand seemed to have went up [in March]… due to the uncertainty,” a Singapore-based trader said.
Despite the rise in vessel calls, average stem size remained unchanged from February.
Total bunker sales for the first three months of the year were 13% higher than in the same period last year.
Fuel grade share of total sales in March (compared to year to date):
- 51% VLSFO (51% YTD)
- 42% HSFO (42% YTD)
- 8% MGO (8% YTD)
By Tuhin Roy
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