Monthly sales of marine fuel, also known as bunker fuel, fell to four-month lows in Singapore in June, though bio-blended bunker sales for the first half of 2023 have surpassed 2022 volumes, official data showed on Friday.

Singapore’s bunker sales are a key indicator of sentiment at one of the world’s major ports and largest ship refuelling hubs.

Bunker sales totalled 3.93 million metric tons in June, down 13.1% month-on-month, though 4.7% higher year-on-year, Singapore’s Maritime and Port Authority (MPA) data showed.

The monthly drop was driven by a decline in volumes for both low-sulphur fuel oil and high-sulphur marine fuel oil grades.

Vessel calls for bunkering totalled 3,369 calls in June, down 7.2% from May, MPA data showed.

ALTERNATIVE FUELS

Sales of bio-blended low-sulphur fuel oil totalled 189,500 metric tons for the first half of 2023, exceeding a total of 140,200 metric tons seen for the whole of 2022, based on the latest data.

The uptick reflected an increase in trials for biofuel bunker blends in Singapore as shippers and suppliers took steps towards the adoption of cleaner alternative fuels.

Meanwhile, bunker sales of liquefied natural gas totalled 36,900 metric tons in 2023 so far, firming from 16,200 metric tons seen in the whole of 2022, though lagging behind biofuel bunker volumes.

Source: Reuters reported by Jeslyn Lerh and edited by Sohini Goswami