Sales of shipping fuel rose to the highest level in at least 17 months in Singapore, the world’s biggest market for so-called bunker, as the cost of the fuel fell, according to the city’s Maritime and Port Authority.
Bunker sales increased 7 percent from April to 3.99 million metric tons in May, the highest since at least December 2010, data released today on the authority website showed.
The 380-centistoke bunker spot cargo price in Singapore has slumped 20 percent since rising in February to $745 a ton, the highest in more than three years, according to data compiled by Bloomberg. It was at $596.50 a ton yesterday. Bunker at Fujairah in the United Arab Emirates cost $7 a ton more than Singapore prices as of yesterday, according to Bloomberg data.
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