Singapore Nov vessel arrivals for bunkering down 4.09% on month
Time：2014-12-16
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Some trade sources had been expecting a steep month-on-month fall in November volumes due to the collapse of OW Bunker at the start of the month, which tightened credit terms and prompted talk in the market of shipowners diverting to other ports with fewer credit issues.
However the latest data indicates OW Bunker’s collapse had little impact on overall volumes, confirming the stance of other traders who had maintained confidence in the market.
November bunker fuel sales included 2.66 million mt of 380 CST high sulfur fuel oil, 58,700 mt of 180 CST HSFO and 709,600 mt of 500 CST HSFO, the MPA data showed.
The low sulfur grades included only 11,800 mt of 380 CST LSFO, the lowest volume since January 2013, when MPA began releasing data for LSFO.
The decline had been anticipated as fewer vessels are expected to buy LSFO with 1% sulfur in the leadup to the International Maritime Organization imposing a 0.1% sulfur limit in Emission Control Areas from January 1.
The November total also included 200 mt of 180 CST LSFO sales and 3,700 mt of 500 CST LSFO.
The HSFO grades have a maximum sulfur content of 3.5%, while the LSFO grades have a maximum sulfur content of 1%, in line with MPA regulations.
Vessel arrivals in Singapore to buy bunker fuel totaled 3,119 in November, down 4.09% from October and edging down 0.89% year on year.