Singapore bunker sales fall below 4mn t in June

Marine fuel sales in Singapore fell again in June, government data show.

Total sales in the port were 3.92mn t last month, down by 87,000t from May and lower by 2,400t from a year earlier, provisional data from Singapore's Maritime and Port Authority (MPA) show.

This is the sixth consecutive month in which bunker sales have declined from a year earlier. Bunker sales in Singapore during the first six months of 2019 are now down by 1.64mn t or 6.5pc compared to the same period last year.

The June total was largely in line with expectations. But consumption is expected to be stronger in July, as buyers switch away from Fujairah because of an increase in war risk premiums in the Mideast Gulf.

Argus reported an average of 20 bunker deals a day in June, down from 21 in May.

Consumption of 380cst high-sulphur fuel oil (HSFO) fell slightly to 2.78mn t in June from 2.8mn t in May. Sales of the higher viscosity 500cst HSFO also declined, to 717,000t from 759,000t over the same period.

Demand for low-sulphur marine gasoil (LSMGO) rose to a record high of 231,000t last month from 212,000t in May.

Singapore's delivered 380cst HSFO prices averaged $385/t in June, down from $411/t in May, data collected by Argus show.

An estimated 3,284 vessels called at Singapore to refuel in June, down from 3,316 vessels during the previous month, according to the MPA statistics.