Singapore bunker sales hold firm in August

Singapore bunker sales in August totalled 4.12mn t, up by 1.1pc or 45,000t from the same month last year and stable compared with the previous month.

Sales of high-sulphur fuel oil (HSFO) of 1.23mn t last month were down slightly from 1.27mn t in July, according to the Maritime and Port Authority (MPA). The firm sales were probably a result of the high scrubber or Hi-5 spread, or very-low sulphur fuel oil's (VLSFO) premium to HSFO, which averaged $258/t in August, according to Argus data.

Demand for VLSFO in August totalled 2.51mn t, up slightly from 2.5mn t in July.

Consumption of low-sulphur marine gasoil (LSMGO) reached 330,000t in August, up by 5.3pc or 17,000t from the previous month.

A total of 3,212 vessels called at Singapore to bunker in August, the highest number for a month this year, according to MPA data. This translates into an average stem size of 1,282t.

Argus reported a daily average of 10½ spot bunker deals in August, split between 6½ for VLSFO, three for LSMGO and one for HSFO.

Singapore's delivered VLSFO, LSMGO and HSFO prices in August averaged $760/t, $1,034/t and $501/t respectively compared with $971/t, $1,095/t and $489/t in July, according to Argus data.

By Sammy Six