Marine fuel demand at Singapore, the world’s largest bunkering hub, fell to its lowest point in 14 months during April, reflecting both seasonal softness and the continuing impact of geopolitical tensions on global shipping patterns.
Total bunker sales in the city-state reached 4.31 million metric tonnes in April, according to data published by the Maritime and Port Authority of Singapore (MPA) and reported by Ship & Bunker. That figure represents a 1.2% decline compared to the same month last year and an 8.7% drop from March 2026 levels — the weakest monthly result since February 2025.
Year-to-Date Demand Remains Strong
Despite the April slowdown, cumulative sales for the first four months of 2026 stood at 18.82 million mt, up 8.4% from 17.36 million mt recorded over the same period in 2025, as reported by Ship & Bunker. The publication notes that the Iran conflict has likely contributed to elevated bunker demand in Singapore at the start of the year.
For context, Singapore posted a record annual total of 56.2 million mt in 2025. Ship & Bunker calculates that if April’s pace were maintained across all twelve months of 2026, the full-year total would reach approximately 56.5 million mt — a modest 0.5% increase year-on-year.
Product-by-Product Breakdown
Across individual fuel categories, Ship & Bunker reports the following for April:
- VLSFO sales totalled 2.19 million mt — also the lowest since February 2025 — down 6.3% from March and 2% below April 2025 levels
- HSFO sales reached 1.79 million mt, up 5.1% year-on-year but down 7.6% from March, with HSFO’s share of total sales rising to 41.5% from 39% a year earlier
- Distillates fell sharply to 256,100 mt — the lowest level recorded since at least January 2023 — declining 18.6% on the year and 27.3% from March. Ship & Bunker suggests that elevated MGO prices linked to the Middle East conflict may have suppressed consumption
- Biofuel blends dropped 33% year-on-year and 19.5% month-on-month to 74,400 mt
- LNG bunkers, counted separately from the conventional and biofuel total, edged up 1% on the year but fell 13.5% from March to 42,400 mt
- No methanol or ammonia bunker sales were recorded during the month
Fewer Vessel Calls, Smaller Stem Sizes
Bunker calls in April totalled 3,438, down 1.9% from the prior year and 1.8% from March, according to Ship & Bunker. The average conventional and biofuel stem size came in at approximately 1,253 mt, below the 12-month average of 1,338 mt.
Prices Remain Elevated
Ship & Bunker reports that Singapore’s average VLSFO price in April was $776/mt, compared to $502/mt in April 2025 and $920/mt in March 2026. The publication’s G20-VLSFO Index — tracking average prices across 20 major bunkering ports — stood at $889.5/mt in April, up from $531/mt a year earlier.
While prices have pulled back from the multi-year highs reached in March, Ship & Bunker notes that market conditions remain volatile following military strikes on Iran by US and Israeli forces on February 28 and ongoing uncertainty surrounding the current temporary ceasefire.
Vessel Traffic Mix Shifts
Total gross tonnage visiting Singapore in April was broadly stable, edging up 0.1% year-on-year to 261 million GT, according to MPA data cited by Ship & Bunker. Container vessel tonnage increased by 6.5 million GT on the year, while bulk carrier tonnage fell by 4.5 million GT over the same period.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker, Maritime and Port Authority of Singapore (MPA)
