Singapore marine fuel sales drop in Sept as bunker calls hit 4-year low

Singapore marine fuel sales drop in Sept as bunker calls hit 4-year low

SINGAPORE (REUTERS) – Marine fuel sales in Singapore fell to a 15-month low of 3.94 million tonnes in September as the number of ships calling at the world’s largest bunkering hub for bunkers sank to a near four-year low, official data showed on Monday.

The September volumes were down 7 per cent from last year and 3 per cent lower from August, the latest data from the Maritime and Port Authority of Singapore (MPA) showed.

Vessel arrivals at the Singapore hub for bunkers fell to 3,098 in September, the lowest since February 2018.

Singapore is facing competition from China as the dominant marine fuel supplier in Asia, reported Bloomberg earlier in July.

This comes as China’s marine fuel sales have almost doubled over the past five years, servicing ships headed for ports in nearby South Korea and Japan.

The bunkering sector is valued at over US$30 billion in Asia.

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