Singapore bunker sales jump 19.5% in October
Record Bunker Fuel Demand at Singapore Port in October as Shipping Activity Grows
In October, the demand for bunker fuel at the Port of Singapore increased by 19.5%, reaching 4.8 million tons. This rise was mainly due to higher interest from shipowners looking to refuel. The total bunker consumption at Singapore’s port from January to October is now 45.3 million tons, bringing the port closer to breaking last year’s record of 51.8 million tons.
The Maritime and Port Authority of Singapore (MPA) recently released data showing that both traditional and alternative marine fuels saw significant growth last month. Many more ships decided to refuel in Singapore, boosting the numbers.
One notable increase was in bio-bunkers and B24 fuel. In October alone, demand hit a new record of 116,200 tons. For the year so far, bio-bunker use has totaled 586,500 tons, already surpassing last year’s 518,000 tons. This rise is linked to stricter shipping emission rules set by the European Union (EU) and the International Maritime Organization (IMO). Experts expect demand for B24 to keep growing, especially as new FuelEU regulations are set to begin in January 2025.
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Another highlight was the sharp increase in Liquefied Natural Gas (LNG) demand. Usage of LNG as a marine fuel jumped by 37% from September, reaching 50,600 tons in October—a new monthly record.
Conventional fuels also showed strong performance. Sales of Very Low Sulphur Fuel Oil (VLSFO) climbed by 11.8%, reaching 2.5 million tons in October. At the same time, High-Sulphur Fuel Oil (HSFO) consumption rose by 11%, hitting 1.8 million tons.
These numbers highlight Singapore’s position as a leading hub for ship refueling. With global shipping activity increasing and new environmental rules coming into play, Singapore is on track to set new records in fuel sales.
