Marine Bureau data showed that in May, sales of mainstream 0.5% low-sulfur fuel oil (VLSFO) increased by 9.7% from April to 2.45 million metric tons; sales of high-sulfur marine fuel (MFO) increased by 11.3% to 1.89 million metric tons. The total sales of marine diesel in May were 344,100 metric tons, a month-on-month increase of 9.3%.
Data from the Maritime Bureau showed that container throughput increased by 5.5% month-on-month to 3.83 million 20-foot TEUs (TEUs), and the number of oil-added vessels arriving at the port increased slightly by 3.8%, reaching 3,637 ships.
Meanwhile, sales of alternative fuels are also rising. In May, total biofuel-blended fuel sales rebounded, up 26.8% to 140,800 metric tons; liquefied natural gas (LNG) marine fuel sales rose 7.2% to 45,000 metric tons.
As more container ships arrived and added fuel, Singapore's marine fuel/bunker sales in May rebounded to its highest in 16 months.
According to data from the Singapore Maritime and Port Authority (MPA), Singapore's marine fuel oil sales increased by 10.8% month-on-month in May and increased by 1.1% year-on-year to 4.88 million metric tons.
However, some suppliers pointed out that sales so far in May and June were lower than expected, while fuel premiums also remained stable or even weakened in the second quarter. "In terms of premiums, the situation is very bad. Now more and more shipping companies are cautious about fuel purchases." The trader added that fuel prices have risen in recent trading days as crude prices rise.
Reuters reported on Monday (June 16) that Ivan Mathews, head of Asia Pacific at the freight analysis company Vortexa, said: "Container throughput has reached its highest level so far this year, which may be due to early shipment after the suspension of tariffs on May 12."