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Singapore's marine fuel sales hit 8-month high in Nov, low sulphur soars to record

[SINGAPORE] Sales of low-sulphur marine fuel in the Singapore bunkering hub soared to a record high in November, more than double the previous record, as the shipping industry transitions to cleaner marine fuels ahead of the global sulphur cap.

Total sales of low sulphur marine fuels came in at 2.076 million tonnes in November, well above the previous record of 915,000 tonnes set in October and more than the 1.871 million tonnes sold in all of 2018, data from the Maritime and Port Authority of Singapore (MPA) showed on Friday.

For the first time ever, sales of low-sulphur marine fuels represented more than half of Singapore's overall bunker fuel sales volumes, Reuters calculations showed.

Overall Singapore marine fuel sales hit an eight-month high in November totalling 4.076 million tonnes, up 4 per cent from last year and 8 per cent higher than October, the data showed.

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New International Maritime Organization (IMO) rules aim to stop ships from using fuels containing more than 0.5 per cent sulphur unless they are equipped with exhaust-cleaning systems known as scrubbers.

REUTERS