Singapore Bunker Sales Increase to the Most in 17 Months
Sales of shipping fuel rose to the highest level in at least 17 months in Singapore, the world’s biggest market for so-called bunker, as the cost of the fuel fell, according to the city’s Maritime and Port Authority.
Bunker sales increased 7 percent from April to 3.99 million metric tons in May, the highest since at least December 2010, data released today on the authority website showed.
The 380-centistoke bunker spot cargo price in Singapore has slumped 20 percent since rising in February to $745 a ton, the highest in more than three years, according to data compiled by Bloomberg. It was at $596.50 a ton yesterday. Bunker at Fujairah in the United Arab Emirates cost $7 a ton more than Singapore prices as of yesterday, according to Bloomberg data.
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