Singapore March bunker sales jump 17 pct vs Feb
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Marine fuel sales in Singapore rose a stronger-than-expected 17 percent in March from the previous month to a record high, after falling 11.5 percent in February, government data showed on Monday.
Bunker sales in the world's top bunker port rose to 3.13 million tonnes last month, as cheaper rates boosted demand, traders said.
This compares with 2.67 million tonnes in February and 3.02 million tonnes in January, the Maritime and Port Authority said on its website.
Bunker sales were up 2.8 percent from the same period a year earlier.
For the January-March period, 8.82 million tonnes of marine fuel were sold in Singapore, up about 2.8 percent from 8.58 million tonnes in the year-ago quarter.
Cheaper rates in Singapore, compared to other ports in East Asia, have drawn more ships to the city-state over the past month.
Bargain-hunting also set in when Singapore bunker prices fell to a more than six-week low of $235 per tonne in mid-March <BK380-B-SIN>, compared with a one-month high of $283 a tonne on Feb. 6, traders said.
Prices have since rebounded in line with improving demand to $268 per tonne on March 31.
Bunker sales in the world's top bunker port rose to 3.13 million tonnes last month, as cheaper rates boosted demand, traders said.
This compares with 2.67 million tonnes in February and 3.02 million tonnes in January, the Maritime and Port Authority said on its website.
Bunker sales were up 2.8 percent from the same period a year earlier.
For the January-March period, 8.82 million tonnes of marine fuel were sold in Singapore, up about 2.8 percent from 8.58 million tonnes in the year-ago quarter.
Cheaper rates in Singapore, compared to other ports in East Asia, have drawn more ships to the city-state over the past month.
Bargain-hunting also set in when Singapore bunker prices fell to a more than six-week low of $235 per tonne in mid-March <BK380-B-SIN>, compared with a one-month high of $283 a tonne on Feb. 6, traders said.
Prices have since rebounded in line with improving demand to $268 per tonne on March 31.