SALES DATA: Singapore bunker sales rise on high sulfur demand

Quantum Commodity Intelligence – Sales of bunker fuel from the southeast Asia hub in Singapore rose 1% in June compared to a month earlier and 7.5% up compared to June 2020 figures, according to data from the Maritime and Port Authority of Singapore Tuesday.

Total sales at the world's number one bunkering hub reached 4.11 million mt, up just 41,000 on May's 11-month low figure but a chunky 284,000 mt higher than the previous June when lockdowns hit demand.

The split between marine fuel 0.5% and higher sulfur fuel oil was broadly stable at 74% for the former and 26% for the latter, although higher sulfur fuel sales are edging higher.

Total bunker sales remain around 2% down on the average monthly sales so far this year.

The rise in sales comes as fuel oil rose $18/mt over the month for both higher sulfur and lower sulfur grades, according to Quantum data.

It also comes as Singapore prices trade at a discount to those in Zhousan, according to market sources.

Sales so far this year are up 3% on the same figure a year earlier.

Singapore's rise in sales comes as bunker sales in Fujairah, the third biggest bunkering hub in the world, fell 0.2% in June.