Singapore sets new record in ship fuel trade

Port posts 48.6m tonnes in total sales volume for 2016 despite global headwinds; container throughput steady

Published Wed, Jan 11, 2017 · 09:50 PM

Singapore

SINGAPORE set a new world record for sales of ship fuel or bunker, posting 48.6 million tonnes in total volume traded at its port for 2016.

Total bunker sales volume expanded 7.7 per cent from 45.2 million tonnes in 2015, data released by the Maritime and Port Authority (MPA) showed, despite slowing world trade and excess capacity hitting bottomlines of most maritime sub-sectors in 2016.

Container throughput, however, was flat at 30.9 million TEU (20 foot equivalent unit) for 2016 over 2015.

The surge in Singapore's bunker sales volume has surprised players in the trade.

International Bunker Industry Association's (IBIA) regional manager for Asia, Simon Neo, said that the increase in Singapore's bunker sales exceeded the early expectation of the industry body. Given the global he…