Marine fuel sales in Singapore, the world's largest bunker port by volume, rose 5.3 per cent to 3.55 million tonnes in September, official data showed on Wednesday.
Heavy supplies in Asia and and cheaper bunker fuel during the month drew buyers to Singapore, traders said.
September bunker premiums, the price differential between ex-wharf bunker and fuel oil cargo values, averaged at 73 US cents a tonne, lower than August's average of US$1.51, Reuters data show.
'It's a cost issue, Singapore is the cheapest port for bunkers in the region compared to Hong Kong or China, and that remains its biggest attraction,' said a Singapore-based bunker trader.
The rebound in September comes after volumes fell in August, snapping a string of five straight months of record bunker sales.
Volumes were up even as vessel arrivals for September fell 4.0 per cent versus August.
Sales of the most common 380-centistoke (cst) grade gained 9.7 per cent to 2.79 million tonnes, but were down 11.9 per cent for the cheaper 500-cst grade at 432,900 tonnes.
Last month saw heavy cargo arrivals totalling 3.7-3.8 million tonnes, compared to 3.1-3.2 million tonnes in August.
Supply of fuel oil to the region continues to be strong, with four-year high volumes of around 3.9 million tonnes fixed for October, while November bookings were at 3.2-3.3 million tonnes.
Heavy supplies in Asia and and cheaper bunker fuel during the month drew buyers to Singapore, traders said.
September bunker premiums, the price differential between ex-wharf bunker and fuel oil cargo values, averaged at 73 US cents a tonne, lower than August's average of US$1.51, Reuters data show.
'It's a cost issue, Singapore is the cheapest port for bunkers in the region compared to Hong Kong or China, and that remains its biggest attraction,' said a Singapore-based bunker trader.
The rebound in September comes after volumes fell in August, snapping a string of five straight months of record bunker sales.
Volumes were up even as vessel arrivals for September fell 4.0 per cent versus August.
Sales of the most common 380-centistoke (cst) grade gained 9.7 per cent to 2.79 million tonnes, but were down 11.9 per cent for the cheaper 500-cst grade at 432,900 tonnes.
Last month saw heavy cargo arrivals totalling 3.7-3.8 million tonnes, compared to 3.1-3.2 million tonnes in August.
Supply of fuel oil to the region continues to be strong, with four-year high volumes of around 3.9 million tonnes fixed for October, while November bookings were at 3.2-3.3 million tonnes.