Singapore sells less marine fuel in August as higher prices bite

[SINGAPORE] Singapore, the world’s largest bunkering hub, posted a 3.9 per cent dip year on year in marine sales in August even as the figures continued to improve from the trough in April after the Middle East war started.

Sales of marine fuel in Singapore reached nearly 4.8 million tonnes in August, statistics from the Maritime and Port Authority of Singapore published on Monday (Sep 14) showed.

While this is lower than a year ago and the second straight month of a year-on-year dip, sales have been improving since April. That was when the impact of the Middle East war started to be felt, and led to an 8.6 per cent slide month on month.