Bunker fuel sales in Singapore rose 3.5% year on year to 4.26 million mt in April, preliminary data released May 13 by the Maritime and Port Authority of Singapore showed.

The overall rise in bunker sales was driven by a jump in high sulfur bunker fuel sales, the data showed.

Sales of high sulfur bunker fuel, which includes 180 CST, 380 CST and 500 CST bunker fuel, surged 41.4% year on year to 1.09 million mt in April and accounted for 25.62% of total sales, up from 18.75% a year earlier when sales were 771,200 mt, the data showed. High sulfur bunker fuel sales were also up 9.9% from 991,700 mt in March.

Sales of 380 CST high sulfur bunker rose 52.7% year on year to 1.06 million mt in April, the highest monthly sales of the mainstay marine fuel since the International Maritime Organization's IMO-2020 mandate came into effect in January 2020.

Meanwhile, sales of low sulfur bunker fuel inched lower in April, corroborating most traders' views that demand remained sluggish.

Sales of the IMO-compliant grades, which include 180 CST, 380 CST and 500 CST bunker fuel, fell 1.5% year on year to 2.81 million mt in April, and edged down 0.7% from March. Low sulfur bunker fuel sales accounted for 66.07% of the total, down from 69.4% the month before.

A widening spread between Singapore-delivered low sulfur marine gasoil and marine fuel 0.5%S bunker also dampened sales of the distillate-grade bunker.

Low sulfur marine gasoil sales fell 20% year on year to 298,000 mt in April, and were down 6.6% from March.

The spread between Singapore-delivered low sulfur marine gasoil and marine fuel 0.5%S bunker averaged $36.89/mt in April, up $5.59/mt or 17.86% from March, S&P Global Platts data showed.

The number of vessels that called into Singapore for bunkering rose 8% year on year to 3,458 in April, and edged down 0.1% from 3,461 in March, MPA data showed.

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Source: Maritime and Port Authority of Singapore