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 tonnes, up 16.5 per cent year-on-year, though easing from the record monthly highs of 5.51 million tonnes in December, data from the Maritime and Port Authority of Singapore (MPA) showed.
Container throughput at Singapore dipped 0.7 per cent from the prior month to 3.89 million twenty-foot equivalent units (TEU) in January, while vessel calls for bunkering held firm, climbing 1.5 per cent 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 per cent low-sulphur fuel oil (VLSFO) totalled 2.56 million tonnes in January, down 9.5 per cent from December but higher year-on-year, while high-sulphur marine fuel volumes were up two per cent from December at 2.16 million tonnes. 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 tonne 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 per cent at 404,100 tonnes.
Sales of alternative fuels retreated, with marine biofuel volumes sliding 33.9 per cent to 60,200 tonnes in January, while liquefied natural gas bunker sales fell 22 per cent to 42,600 tonnes.
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.
(Reporting by Jeslyn Lerh; Editing by Sumana Nandy)
