
Gross sales of marine bunker gasoline at Singapore retreated to a two-month low in November after hovering in October, knowledge from Maritime and Port Authority of Singapore (MPA) confirmed.
Bunker gross sales on the world’s greatest ship refueling hub totaled 4.46 million metric tons in November, down 8.5% month-on-month however larger by 4.6% from a 12 months in the past, the information confirmed.
Complete vessel requires bunkering fell 4.5% from the prior month to three,296 in November, whereas container throughput dipped 4.7% to three.34 million twenty-foot equal items (TEUs).
Volumes for the mainstay low-sulfur gasoline oil grade totaled 2.4 million tons in November, down 4.6% from October, whereas volumes for high-sulfur marine gasoline eased 13.1% to 1.58 million tons after reaching multi-year highs in October.
Spot demand has been largely lukewarm in November, with some market members noting that the development is extending into December. Bunker premiums have trended all the way down to five-month lows this month, with some aggressive every day gives seen out there, mentioned sources.
Marine gasoil gross sales additionally softened month-on-month, totaling 338,300 tons for November.
In the meantime, marine biofuel gross sales additionally retreated however remained above 100,000 tons, which was nonetheless a powerful quantity in response to market members.
Extra deliveries of marine biofuel have emerged this quarter amid liftings from main liners akin to CMA CGM, which is in talks for an even bigger biofuel bunker contract subsequent 12 months, mentioned sources.
As for liquefied pure fuel, bunker volumes fell 45.6% month-on-month to 27,500 tons, although market members anticipate volumes to select up from subsequent 12 months.
The MPA has launched an expression of curiosity to collect proposals for scaling up LNG for bunkering or ship refueling, it mentioned final week.
(Reuters – Reporting by Jeslyn Lerh; Modifying by Varun H Okay)
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