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InternationalMarkets

Singapore marine fuel oil sales in October at 3.76 mil mt, down 8.6% on year

Maritime Port Authority Singapore (MPA) announced that estimated marine fuel oil sales volume in October was at 3.76 mil mt, dropping by 357,500mt from the same month last year, and falling by 130,700mt from the previous month of September.
The sales volume of 380cst with a sulfur content of 3.5% was at 2.25 mil mt, down 736,700mt from October 2018, and falling by 433,900 mt from September 2019.
Nonetheless, the sales volume of 180cst with a sulfur content of 0.5% or lower was at 110,600 mt, up 77,900 mt from October 2018, and rising by 39,100 mt from September 2019. Meanwhile, the sales volume of 380cst with a sulfur content of 0.5% or lower was at 459,300 mt, climbing by 456,000 mt from October 2018 and rising by 357,300mt from the previous month.
Demand for HSFO sharply declined in October as reducing sulfur oxide (SOx) emission from vessels would come into force from January 2020. Sources mentioned that the demand ratio between HSFO and LSFO was 3:7 in October. The sales volume in the port itself has dropped month after month in 2019 compared to the same month last year on the back of prolonged trade friction between US and China which caused a decrease in traffic of world vessels.

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