By Jeslyn Lerh

SINGAPORE (Reuters) – Marine fuel sales reached fresh highs at the world’s largest bunker hub of Singapore in 2024, official data showed on Wednesday, driven by record container throughput and higher deliveries of alternative marine fuels.

Sales totalled 54.92 million metric tons in 2023, data from the Maritime and Port Authority of Singapore (MPA) showed. Total sales surpassed a previous record of 51.82 million tons in 2023.

Container throughput climbed to 41.12 million twenty-foot equivalent units (TEUs) in 2024, also logging new highs. Meanwhile, annual vessel arrival tonnage grew to a fresh record of 3.11 billion gross tons (GT).

More bunker volumes emerged in 2024 as shipping tensions in the Red Sea altered refuelling patterns and buoyed marine fuel demand, while shipowners also lifted more alternative fuels to support emission cuts, said industry sources.

The year also saw significantly stronger sales in high-sulphur marine fuel, with volumes totalling 20.15 million tons, up 21% from 2023, calculations based on MPA data showed.

The uptick in high-sulphur marine fuel sales came amid a higher fleet of vessels fitted with scrubbers.

In contrast, sales of low-sulphur fuel dropped 4% year-on-year to 29.58 million tons.

Meanwhile, sales of alternative bunker fuels exceeded one million tons for the first time, reaching 1.34 million tons in 2024, doubling from 2023, said MPA.

Sales of biofuel blends grew to about 880,000 tons, up about 69% from 2023, while sales of liquefied natural gas for bunkering rose to over 460,000 tons, more than quadrupling.

BP SINGAPORE PTE. LIMITED

CHEVRON SINGAPORE PTE LTD

ENG HUA COMPANY (PTE) LTD

EQUATORIAL MARINE FUEL MANAGEMENT SERVICES PTE LTD

GLENCORE SINGAPORE PTE LTD

GLOBAL ENERGY TRADING PTE LTD

PETROCHINA INTERNATIONAL (S) PTE LTD

SINOPEC FUEL OIL (SINGAPORE) PTE. LTD.

TFG MARINE PTE LTD

VITOL BUNKERS (S) PTE LTD

CHEVRON SINGAPORE PTE LTD

MAERSK OIL TRADING SINGAPORE PTE LTD

MINERVA BUNKERING PTE LTD

SK ENERGY INTERNATIONAL PTE LTD

VITOL BUNKERS (S) PTE. LTD.

(Data Source: MPA Singapore)

(Reporting by Jeslyn Lerh; Editing by Bernadette Baum)

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