Bunker gas sales in Singapore fell 12.1% year on year to 3.74 million mt in April, in accordance to preliminary information launched May 13 by the Maritime and Port Authority of Singapore.
Sales had been down 0.7% month on month.
Sales of each excessive sulfur and low sulfur gas oil bunkers reversed beneficial properties in March, in accordance to MPA information, regardless of increased vessel arrivals.
Weaker bunker sales in April had been largely attributed to considerations round gas contamination in HSFO in addition to restricted cargo availability for each HSFO and LSFO.
Market contributors stated increased bunker costs had additionally led to faster utilization of credit score traces, stopping some house owners from taking bigger stems.
The variety of bunker-only calls in April elevated marginally by 0.2% month on month however fell 12.5% year on year, the MPA information confirmed, whereas whole vessel arrivals rose 4.1% month on month to a 12-month excessive of seven,608.
Sales of International Maritime Organization-compliant grades, which embody 100 CST, 180 CST, 380 CST and 500 CST bunker gas, rose 3.3% month on month to 2.48 million mt in April.
LSFO sales accounted for 66.2% of whole sales, 2.6 proportion factors under March and 0.1 level decrease on year.
The premium for Singapore-delivered marine gas 0.5% over the benchmark Singapore 0.5% marine gas cargo evaluation averaged $32.35/mt in April, up 38% from March on the again of tight availability, with some sellers quoting so far as 14 days ahead.
“Not only is cargo limited, loading slots for barges are also not easy to get. Some owners who require fuel for prompt delivery have had to channel their enquiries to ports where deliveries on earlier loading dates can be fulfilled” stated a dealer.
Sales of excessive sulfur bunker gas, which incorporates 180 CST, 380 CST and 500 CST, dropped 13% month on month to 0.94 million mt, the MPA information confirmed, barely under the month-to-month common of round 1 million mt.
Sales of HSFO 500 CST in April fell 78% month on month to 27,200 mt, the bottom since March 2021.
HSFO sales had been damage by stories of contaminated gas offered in Singapore.
Around 300,000 mt of gas was stated to be contaminated, in accordance to market sources, leading to huge demand provide hole.
Sales of low sulfur marine gasoil — which has a most sulfur content material of 0.1% — totaled 278,600 mt in April, up 2.5% month on month however 6.5% decrease year on year.
Source: Platts