Marine gasoline gross sales at Singapore bunker hub hit document highs in 2024

By Jeslyn Lerh

SINGAPORE (Reuters) – Marine gasoline gross sales reached recent highs on the world’s largest bunker hub of Singapore in 2024, official knowledge confirmed on Wednesday, pushed by document container throughput and better deliveries of other marine fuels.

Gross sales totalled 54.92 million metric tons in 2023, knowledge from the Maritime and Port Authority of Singapore (MPA) confirmed. Complete (EPA:TTEF) gross sales surpassed a earlier document of 51.82 million tons in 2023.

Container throughput climbed to 41.12 million twenty-foot equal items (TEUs) in 2024, additionally logging new highs. In the meantime, annual vessel arrival tonnage grew to a recent document of three.11 billion gross tons (GT).

Extra bunker volumes emerged in 2024 as delivery tensions within the Pink Sea altered refuelling patterns and buoyed marine gasoline demand, whereas shipowners additionally lifted extra various fuels to assist emission cuts, mentioned business sources.

The 12 months additionally noticed considerably stronger gross sales in high-sulphur marine gasoline, with volumes totalling 20.15 million tons, up 21% from 2023, calculations based mostly on MPA knowledge confirmed.

The uptick in high-sulphur marine gasoline gross sales got here amid a better fleet of vessels fitted with scrubbers.

In distinction, gross sales of low-sulphur gasoline dropped 4% year-on-year to 29.58 million tons.

In the meantime, gross sales of other bunker fuels exceeded a million tons for the primary time, reaching 1.34 million tons in 2024, doubling from 2023, mentioned MPA.

Gross sales of biofuel blends grew to about 880,000 tons, up about 69% from 2023, whereas gross sales of liquefied pure gasoline for bunkering rose to over 460,000 tons, greater than quadrupling.

BP (NYSE:BP) SINGAPORE PTE. LIMITED

CHEVRON SINGAPORE PTE LTD

ENG HUA COMPANY (PTE) LTD

EQUATORIAL MARINE FUEL MANAGEMENT SERVICES PTE LTD

GLENCORE SINGAPORE PTE LTD

GLOBAL ENERGY TRADING PTE LTD

PETROCHINA INTERNATIONAL (S) PTE LTD

SINOPEC FUEL OIL (SINGAPORE) PTE. LTD.

TFG MARINE PTE LTD

VITOL BUNKERS (S) PTE LTD

CHEVRON SINGAPORE PTE LTD

MAERSK OIL TRADING SINGAPORE PTE LTD