Singapore records massive surge in bio-bunker and LNG sales in March
Singapore sold nearly 2,000 mt/day of bio-bunkers in March, about four times the 500 mt/day sold in February, according to preliminary figures from the port authority.
Monthly Singapore alternative bunker sales since January 2022
Changes in Singapore alternative fuel sales between February and March:
- Bio-VLSFO sales up from 16,000 mt to 66,000 mt
- LNG sales up from 27,000 mt to 39,000 mt
Singapore's bio-blended bunker sales increased by more than 300% in March, reaching their highest level since October last year.
All of the 66,000 bio-blended bunkers sold in March were VLSFO blended with a bio component – typically 24% in Singapore. Total biofuel bunker sales across the first three months of this year stood at 127,000 mt, significantly higher than around 85,000 mt sold in the same period last year.
In March, LNG bunker sales soared by 12,000 mt, reaching a record high of 39,000 mt. This marks the fourth consecutive month of growth in LNG bunker sales, driven by the cheaper LNG prices, which have prompted increased oil-to-gas switching.
No methanol sales have been recorded since July last year.
By Tuhin Roy
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