Singapore’s VLSFO bunker sales fall slightly in April

: Oil products
21/05/14

Sales of marine fuels at the port of Singapore rose by 1pc or 57,000t on the month to 4.3mn t in April, according to preliminary data from Singapore's Maritime and Port Authority (MPA), although very low-sulphur fuel oil (VLSFO) sales declined slightly from March.

The total April sales were also 142,000t higher from a year earlier.

Sales of VLSFO reached 2.81mn t in April, down from 2.83mn t in March. Demand for VLSFO with a maximum viscosity of 380cst, 180cst and 100cst totalled 2.14mn t, 180,000t and 493,000 t respectively last month.

Market participants were anticipating lower sales given weaker demand overall and more competitive prices in China because of oversupply there.

Low-sulphur marine gasoil (LSMGO) sales fell to 298,000 in April from 319,000t in March. But sales of high-sulphur fuel oil (HSFO) rose to 1.09mn t in April from 992,000t in March.

The premium of VLSFO to HSFO, also known as the scrubber or Hi-5 spread, remained largely stable at $112/t in April compared with $109/t in March, according to Argus data.

A total of 3,458 vessels called at the Singapore port to refuel last month, similar to March's 3,461, according to MPA data. This translates into an average stem size of 1,233t.

Argus reported a daily average of eight spot bunker deals in April, with five for VLSFO, 2.5 for LSMGO and 0.5 for HSFO.

Singapore's delivered VLSFO, LSMGO and HSFO prices averaged $488/t, $520/t and $376/t in April, down from $498/t, $526/t and $389/t in March respectively.

By Sammy Six

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EU eases ICE phase-out with new 2035 CO2 car target

25/12/16

EU eases ICE phase-out with new 2035 CO2 car target

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Singapore’s VLSFO bunker sales fall slightly in April

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