Marine fuel sales in Singapore decreased in February after two months of strong demand, according to the Maritime and Port Authority of Singapore (MPA). Volumes fell to 4.67 million metric tons, a 10.6% drop from January, though this marks a 12.8% increase from the previous year. Container throughput also declined by 12.1%, reaching 3.42 million TEUs, while vessel calls for bunkering dropped by 9.4% to 3,423.
Sales of low-sulphur fuel oil (VLSFO) decreased by 9.8% to 2.31 million tons, while high-sulphur fuel volumes fell 15.2% to 1.83 million tons. Conversely, alternative marine fuels saw a rebound, with marine biofuel sales rising 54% to 92,700 tons and liquefied natural gas (LNG) sales increasing by 38.5% to 59,000 tons.
Despite the February downturn, demand has reportedly strengthened in early March, influenced by geopolitical tensions in the Middle East, which have redirected ships to refuel at Singapore instead of other ports. While some shippers are facing challenges due to rising fuel prices, the MPA assures that supply remains adequate and is monitoring the situation closely.
