Singapore's marine bunker fuel sales in July climbed to their highest in more than one and a half years, official data showed on Thursday.
Sales at the world's largest refuelling hub for ships totalled 4.92 million tonnes in July this year, up seven per cent month-on-month and 5.7 per cent year-on-year, data from Singapore's Maritime and Port Authority (MPA) showed.
More sales emerged as monthly container throughput hit its highest in the year at 3.87 million twenty-foot equivalent units (TEU), based on MPA data. Vessel calls for bunkering rose 7.3 per cent from June to 3,651 calls in July. Market sources noted stable-to-slightly-better demand in July, though bunker premiums have remained pressured due to plentiful supplies, they added.
Sales of the mainstay 0.5 per cent low-sulphur fuel oil (VLSFO) grade rose 2.6 per cent from June to 2.37 million tonnes in June, while high-sulphur marine fuel (MFO) volumes jumped 15.3 per cent to 1.96 million tonnes, MPA data showed.
Total marine gasoil sales posted a sharp uptick, climbing 42.1 per cent to 419,900 tonnes for July, a record monthly high this year.
Meanwhile, sales of "alternative fuels" retreated after reaching a historical high in June. Total biofuel-blended volumes fell 23.1 per cent to 120,100 tonnes in July, while liquefied natural gas bunker sales slid 25 per cent to 41,500 tonnes.
(Reporting by Jeslyn Lerh; Editing by Sahal Muhammed)
