SINGAPORE - SINGAPORE. Sales of marine fuel at world's top bunkering hub Singapore fell in September as vessel arrivals dropped from the previous month, official data showed Thursday.
September sales totalled 3.97 million tonnes, sliding by 4% from August but edging up 1% year-on-year, while arrivals for bunkering dipped 2% month-on-month at 3,155 vessel calls.
Despite a drop in bunker fuel premiums, sales of low-sulphur marine fuel oil dipped by 2% from the previous month to 2.47 million tonnes.
Meanwhile, sales of high-sulphur marine fuel oil fell 9% at 1.12 million tonnes, down for a second consecutive month after a major high sulphur fuel oil (HSFO) supplier had its bunkering licence suspended for two months.
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"HSFO deliveries in Singapore will likely increase from H2 October onwards once the suspension of Glencore's bunkering license ends," said Ivan Mathews, head of FGE's Asia Refining and Global Fuel Oil Service.
"That said, overall bunker sales could face downwards pressure this month as flat prices have gone up in October (month-to-date) due to higher crude prices," he added.
Bunker fuel premiums for 0.5% low-sulphur fuel oil have largely held steady to firmer in October, after cargo premiums for the product rebounded following a decline in August.
