Marine fuel sales at Singapore, the world’s largest bunker hub, kicked off 2026 robustly, fueled by strong demand and rising price premiums. January’s sales reached 5.23 million metric tons, marking a 16.5% year-on-year increase, despite a slight decline from December’s record of 5.51 million tons, according to the Maritime and Port Authority of Singapore (MPA).
Container throughput in Singapore fell by 0.7% to 3.89 million twenty-foot equivalent units (TEUs) in January, while vessel calls for bunkering increased by 1.5% to 3,778 calls. Market sources noted that January typically sees heightened demand ahead of the Lunar New Year, contributing to healthy spot demand.
Volumes of 0.5% low-sulphur fuel oil (VLSFO) totaled 2.56 million tons, down 9.5% from December but higher than the previous year. In contrast, high-sulphur marine fuel volumes increased by 2.0% to 2.16 million tons. Price premiums for Singapore-delivered bunkers rose above $20 per metric ton by the end of January, up from the low $10s earlier in the month.
Meanwhile, marine gasoil sales decreased by 2.3% to 404,100 tons, and alternative fuel sales saw significant drops, with marine biofuel volumes falling 33.9% and liquefied natural gas sales down 22.0%. Some industry experts caution that delays in establishing a net-zero framework for shipping could hinder the adoption of low-carbon marine fuels, although companies remain committed to green investments.
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