Singapore’s bunker sales climbed to an all-time high of almost 4mt last month as owners took advantage of weaker prices.
The volumes sold were 10% higher than the 3.6mt sold in May 2011 and almost 7% on the 3.7mt sold in the April 2012.
“The demand is being spurred by a fall in outright prices,” said traders at UK-based Freight Investor Services (FIS)
After peaking at $727/t in March, average bunker prices have come down 11% to $$642/t, according to US bank Morgan Stanley.
“Nevertheless,
