Singapore bunker fuel sales fell 7.7% month on month but rose 3.62% year on year, to 3.4 million mt in February, official figures released by the Maritime and Port Authority of Singapore Friday.
Bunker volumes drop to lowest level in eight months, but sales during the first two months are the highest ever recorded.
Total sales at the world's leading bunker port decreased last month by 284,100 tonnes, or 7.7 percent, to 3,396,000 tonnes, down from 3,680,100 tonnes in January. It is the third-lowest figure in the last 12 months (between March 2014 and February 2015).
In comparison with the corresponding month last year, February volumes were up by 118,600 tonnes, or 3.6 percent. It is the second month in a row that year-on-year monthly volumes have risen; it is the first time that this has happened since May 2014.
Demand for February is typically lower due to the long Lunar New Year holiday period which saw much less activity in the Asian market and the month itself is a short one.
February volumes included 2.49 million mt of 380 CST high sulfur fuel oil, 59,400 mt of 180 CST HSFO and 694,400 mt of 500 CST HSFO. For the low sulfur grades, sales included 200 mt of 380 CST LSFO.