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Bunker fuel sales dipped 2% at Singapore port in May, experts provide opinion and forecast

‘As the saying goes without people buying things, manufacturing will slow, trade will also slow and shipping movements slows down. It’s a whole chain of reaction,’ says Simon Neo.
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Bunker sales at Singapore port fell by 2.0% on year in May 2020, according to data released by the Maritime and Port Authority of Singapore (MPA) on Friday (12 June).

The dip in marine fuel sales was aligned with the expectation of several industry players who believed COVID-19 (Coronavirus Disease 2019) has finally ‘caught up’ with market demand.

“As mentioned in my earlier commentary, May was looking to be a quieter month compared to April,” explained Dennis Ho, Director & Founder of local marine fuel consultancy Azure Strategic Resources.

“Prices in April, which led to ship operators/owners loading up on their bunkers, encountered a sharp correction in the later part of the month. This was followed by a quick recovery of prices in May, with Gasoil MOPS clawing back about 40% from the lows of April.

“These two factors combined probably led to a lower bunker sales volume for the Singapore market in May.  However, if taken into context of the current global economic situation, I would say the bunker market has been quite resilient.”

Ho noted the wider maritime market being buoyed by optimism as countries begin to relax their strict lockdown measures due to COVID-19.

“Positive trade figures from China also brought hope of a possible V-shape recovery, while other financial markets were also bullish,” he said.

“The expectation of OPEC+ to extend their production cuts, which was a development during the end of May, provided more bullish news to the market.”

Ho expects market prices to be volatile moving forward to June.

“The Singapore bunker market will face price competition with regional ports (i.e. Port Klang, Hong Kong and South Korea),” he forecasts.

“Additionally, ex-wharf discounts over cargo prices in June will likely be lower than May due to ample supplies and weaker demand.

“The continued spat between US and China will also weigh on the broader market. Expectations of a prolonged economic downturn will look bearish for the market if mortality continues to increase in the second wave of COVID-19.”

Simon Neo, Executive Director at marine fuels consultancy SDE International, says the drop in Singapore’s bunkering volume during May “is not unexpected”.

“Many major bunker ports around the world also saw a decline in volume [in May]. Less cargoes are being shipped globally due to the showdown in trade and closure of factories caused by COVID-19 and the continued spat between USA and China,” he notes.

“This was evident in the number of vessel arrivals to Singapore for May [-43.7% y.o.y.]. Shipping is going through a difficult year, while banks’ tightening of credit facilities have also not helped and most likely this will remain the case going forward.

“The tightening of credit facilities not only affects the shipowners but also the bunker industry as a whole.

“Physical suppliers usually give shipowners or charterers open credit for 30 days after bunkers are delivered to the vessel. With the tightening of credit facilities from the banks to physical suppliers, the group will gradually not be able to supply more volume.

“The industry is facing a slowdown in the whole bunker sector as countries try to open up their trades cautiously to prevent a second wave of COVID-19 into their countries, not forgetting people are buying lesser, going out lesser and travelling much lesser now.

“As the saying goes without people buying things, manufacturing will slow, trade will also slow and shipping movements slows down. It’s a whole chain of reaction.”

Singapore bunker volume

A total 3.92 million metric tonnes (mt) (exact: 3,925,000 mt) of bunkers was sold at the port in May, less than 4.00 million mt (exact: 4,006,500 mt) posted during May 2019.

Deliveries of 500 centistokes (cSt), 380 cSt and 180 cSt grades in May 2020 (against on year), were respectively 100,100 mt (-86.8% from 759,100 mt), 685,200 mt (-75.5% from 2.79 million mt), while 180 cSt product recorded no sales (-100% from 19,600 mt).

Low sulphur 500 cSt, 380 cSt and 180 cSt products respectively recorded 3.5 million mt sales (compared to zero), 1.92 million mt (significantly up from 19,700 mt), and 76,600 mt (+92% from 39,900 mt).

The latest data introduced new categories, namely low sulphur 100 cSt, and ULSFO which respectively recorded 657,200 mt and 58,400 mt of sales in February.

Low sulphur marine gas oil (LS MGO) sales were posted at 351,400 mt (+65.6% from 212,000 mt) and MGO at 72,100 mt (-5.0% from 75,900 mt).

Related: Marine fuel consultants explain Singapore’s 10.8% on year bunker sales increase in April
Related: Singapore: March 2020 bunker fuel sales rise 5.7% on year
Related: Singapore: February 2020 bunker sales volume up 2.5% on year
Related: Singapore: January 2020 bunker sales volume up 7.5% on year

 

Photo credit: Manifold Times
Published: 15 June, 2020

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Legal

Shell Singapore charged over Pulau Bukom oil leaks, reporting delays

Shell faces four charges under Singapore’s Prevention of Pollution of the Sea Act over two 2024 oil discharge incidents at its Pulau Bukom facility.
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September 25, 2026

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2 MPA craft (left) supporting Shell craft in the clean up operations of the oil sheens taken on 28 Dec 9am

Shell Singapore has been charged over two incidents in 2024 involving oily mixtures discharged into Singapore waters from its facilities at Pulau Bukom, according to media reports on Tuesday (22 September). 

The company faces four charges under the Prevention of Pollution of the Sea Act, including allegations that it failed to report the discharges to the port master immediately. 

The first incident occurred on 20 October 2024, when approximately 40 metric tonnes (mt) of oily mixture was discharged through a hole in a pipeline at the Shell Singapore Energy and Chemicals Park at about 8am.

Shell is accused of reporting the incident to the port master at about 12.55pm, several hours after the discharge occurred. 

The second incident took place between 26 and 28 December 2024. An estimated 485kg to 956kg of oil mixture was discharged into Singapore waters from the same facility.

Shell is accused of failing to report the incident immediately, with notification to the port master made at about 11.50am on 26 December 2024, according to the charges.

Singapore’s pollution-prevention regulations require occupiers of such facilities to report oil or oily-mixture discharges into Singapore waters “without delay and to the fullest extent possible”.

Shell’s representative requested an eight-week adjournment at the 22 September hearing, citing the need to obtain internal instructions, appoint counsel and locate historical records. The company said the business associated with the incidents had been divested in 2025.

The case was adjourned to October. Shell is also facing prosecution by Singapore’s National Environment Agency over the same incidents.

Related: Shell reports up to 40 mt of slop leaked from pipeline into Singapore waters
Related: Singapore: No new oil sightings after recent pipeline leak and bunkering incidents
Related: Singapore: Clean-up of oil from Shell pipeline leak to be completed in days
Related: Singapore: Oil leak at Pulau Bukom stopped; cleanup of oil sheens completed

 

Photo credit: Maritime and Port Authority of Singapore
Published: 25 September, 2026

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Incident

MPA probes Singapore Strait collision involving fishing vessel, bulk carrier

MPA says there were no reported injuries among the crew of either vessel in the incident involving China-registered fishing vessel “Lu Qing Yuan Yu” and Panama-registered bulk carrier “First Margaux” .

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September 25, 2026

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Panama-registered bulk carrier “First Margaux”

The Maritime and Port Authority of Singapore (MPA) on Tuesday (22 September) said it is investigating the incident involving the China-registered fishing vessel Lu Qing Yuan Yu and the Panama-registered bulk carrier First Margaux in the Singapore Strait on 17 September.

MPA said there were no reported injuries among the crew of either vessel or pollution arising from the incident and navigational traffic was not affected.

Videos circulating on social media showed the bulk carrier colliding with the fishing vessel.  

“The fishing vessel took on water during the incident but remained afloat and stable, with the crew taking measures to manage the situation onboard,” MPA said. 

The vessel was subsequently towed to Raffles Reserved Anchorage for assessment. 

Essential crew remained onboard to support the tow, while the Singapore Civil Defence Force supported the transfer of other crew to shore. 

MPA added it also issued navigational safety broadcasts to keep other vessels clear of the tow and escorted the vessel into port with a MPA craft.

 

Photo credit: MarineTraffic / Arnold Pohen
Published: 25 September, 2026

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Mass Flowmeter

TFG Marine deploys first MFM-equipped bunker barge in Jamaica

Bunker barge “Kingston Trader” is currently on its way to Jamaica following the successful installation of a Coriolis mass flow meter (MFM) system, certified to ISO 22192.
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September 25, 2026

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TFG Marine deploys first MFM-equipped bunker barge in Jamaica

Global marine fuel supply and procurement firm TFG Marine on Thursday (24 September) said its bunker barge Kingston Trader is currently on its way to Jamaica following the successful installation of a Coriolis mass flow meter (MFM) system, certified to ISO 22192.

The company said the latest installation brings the proportion of TFG Marine’s fleet equipped with MFMs to approximately 88%, marking another step in the continued rollout of this technology across its global bunkering operations.

“The barge will operate in Jamaica through our local partnership with Scott Petroleum, becoming the first bunkering vessel in the region equipped with this technology and bringing greater accuracy, transparency and assurance to fuel measurement for customers across the Caribbean,” TFG Marine said in a social media post. 

“Together with Scott Petroleum, we look forward to working collaboratively with the Maritime Authority of Jamaica, the The Port Authority of Jamaica, Petrojam Limited and other stakeholders to share our experience of MFM technology, explore its wider benefits and support the continued development of bunkering standards across the region.” 

Manifold Times previously reported TFG Marine continuing to expand MFM technology across its US Gulf Coast bunker fleet with Buffalo B414 and Buffalo B304 being fitted with the equipment. 

Last year, TFG Marine announced it reached a key milestone in its global digitalisation programme with the installation of an ISO 22192-compliant MFM on the Buffalo 404, a barge on time charter from American bunker barge company Buffalo Marine Service Inc.

The installation was part of TFG Marine’s wider strategy to equip close to 90% of its global bunkering fleet with MFMs by 2026 as a commitment towards improving data integrity, streamlining operations and strengthening trust in marine fuel transactions.

Related: TFG Marine advances global MFM rollout with two US Gulf bunker barges
Related: TFG Marine installs first ISO-certified mass flow meter on US Gulf bunkering barge

 

Photo credit: TFG Marine
Published: 25 September, 2026

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