According to the Maritime and Port Authority of Singapore’s (MPA) preliminary estimates, bunker volumes sold at the Asian hub in January totalled over 4.5 million tonnes – the highest monthly total for two years and with a product split that reflects shipping’s transition through the introduction of the 0.50% global sulphur cap.
The January total of 4.51 million mt compares with the 4.19 million mt sold in January 2018, and was also slightly up on last December’s total of 4.46 million mt.
Not surprisingly, sales of low sulphur fuels were well up in January. Volumes of marine gasoil (MGO) totalled 108,500 mt compared to 89,500 mt last December, and these figures may reflect buying patterns at the port as owners and operators experienced difficulties sourcing very low sulphur fuel oil (VLSFO) in the first month of 2020.
Low sulphur marine gasoil sales were 445,900 mt, and low sulphur fuel oil 100 cSt volumes were 681,700 mt, a considerable increase from the 378,300 mt sold in December. Low sulphur fuel oil 380 cSt sales, at 2.21 million mt, accounted for almost half of January’s total.
The IMO 2020 transition was also mirrored in high sulphur fuel sales at Singapore. High sulphur fuel oil 380 cSt tumbled from 1.164 million mt December to 632,300 mt in January. However, volumes of MFO 500 cSt held up well at 131,400 mt, compared with 102,900 in December, which is reflective of fuel purchasing for scrubber-equipped vessels.