Singapore’s Marine Fuel Sales Surge by 12% in February
In February, Singapore, the world’s leading bunkering hub, reported a significant increase in marine fuel sales, reaching a total of 4.61 million metric tons (mt). This figure marks a 12% rise compared to the same month last year, as per data released by the Maritime and Port Authority of Singapore (MPA) on Monday. However, this total is 11.1% lower than the sales recorded in January 2026, indicating a seasonal fluctuation in demand. February’s sales represent the lowest monthly total since June 2025, despite Singapore achieving a record annual marine fuel sales of 56.2 million mt in 2025.
The rise in sales reflects a growing demand for various types of marine fuels, including very low sulfur fuel oil (VLSFO), high sulfur fuel oil (HSFO), and biofuels. The data indicates that VLSFO sales increased by 11.9% year-on-year, totaling 2.31 million mt. Conversely, HSFO sales rose by 12.7%, accounting for 40.5% of total sales, although both fuel types saw declines compared to January 2026. Distillate sales also experienced an 18.9% increase compared to last year, although they were down 7.4% from the previous month.
Product Breakdown and Trends
The breakdown of fuel types sold in February reveals notable trends in the marine fuel market. VLSFO sales, while up from February 2025, were the lowest since April 2025, indicating a potential shift in fuel preferences among ship operators. HSFO sales, totaling 1.83 million mt, also showed a year-on-year increase but were significantly lower than January’s figures.
Biofuel sales reached their highest level since September 2025, with approximately 92,800 mt sold in February, marking a 53.9% increase from January 2026. This growth in biofuel sales aligns with the industry’s ongoing transition towards more sustainable fuel options. Additionally, liquefied natural gas (LNG) sales soared by 96.7% year-on-year, with 59,000 mt sold in February, highlighting a growing acceptance of LNG as a marine fuel alternative.
The increase in bunker calls, which rose by 11.3% year-on-year to 3,423, reflects the overall growth in demand for marine fuels. However, this figure is down 9.4% from January 2026, suggesting fluctuations in shipping activity.
Market Dynamics and Pricing
In terms of pricing, Singapore’s average VLSFO price in February was recorded at $500.5 per mt, a decrease from $595 per mt a year ago. The G20-VLSFO Index, which tracks average prices across 20 major bunkering ports, also saw a decline, falling to $518.5 per mt. This drop in prices comes amid geopolitical tensions, particularly following military actions involving the US and Israel against Iran, which have impacted shipping routes and fuel prices.
The total gross tonnage of vessels visiting Singapore increased by 13.1% year-on-year, reaching 257.1 million mt in February. This growth was primarily driven by the bulker and container segments, indicating a robust maritime activity in the region. The MPA’s implementation of mandatory mass flow meter systems for bunker deliveries ensures accurate measurements, enhancing the integrity of the bunkering process in Singapore.
