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MarketsInternational

Singapore marine fuel oil sales in February at 3.87 mil mt, up 2.6% on year

Maritime Port Authority Singapore (MPA) announced that estimated marine fuel oil sales volume in February was at 3.87 mil mt, up 99,300 mt (2.6%) from the same month last year, but falling by 635,000 mt (14.1%) from the previous month of January 2020.
The sales volume for high sulfur fuel oil (380cst) was at 522,200 mt, dropping by 2.18 mil mt from Feb 2019 and down 110,100 mt from January 2020. The sales volume for MGO was at 86,400 mt, up 16,500 mt from the same month last year but down 22,100 mt from the previous month. The sales volume of 100cst with a sulfur content of 0.5% or lower was at 716,200 mt, up 34,500 mt while the sales volume of 180cst with a sulfur content of 0.5% or lower was at 150,300 mt, down 60,700 mt from January 2019. Meanwhile, the sales volume of 380cst with a sulfur content of 0.5% of lower was at 1.84 mil mt, climbing by 1.83 mil from February 2019, but falling by 372,900 mt from January 2020.
Due to the decrease in the number of vessels calling at Singapore, the sales volume for bunker fuel fell from the previous month. Amid the outbreak of the COVID-19 especially in China, vessels from Europe and the Middle East to China via Singapore had declined. Thus, demand for bunker fuel oil in Singapore also fell.

Ayana Yamaoka   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.