Singapore sells less marine fuel in August as higher prices bite

Singapore, the world's leading bunkering hub, reported a 3.9% decrease in marine fuel sales year-on-year in August, according to data released by the Maritime and Port Authority of Singapore on September 14. The country's sales of marine fuel reached nearly 4.8 million tonnes in August, marking the second consecutive month of decline compared to the previous year.

While this represents a drop from a year ago, it is part of a positive trend that began improving in April, following the onset of the Middle East war. The decline in sales can be attributed to the rising prices, which have deterred vessels from calling at Singapore for refueling.