Despite the global economic slump, Singapore has recorded its second highest monthly growth in bunker sales.
According to Singapore’s Maritime Port Authority, nearly 3.2 million tonnes of bunkers were sold in September, a year-on-year increase of 11%.
Sales of 380 centistoke bunker fuel rose by 19% from a year ago to 2.48 million tonnes.
September’s figure of 2,749 bunkers was up 8% from the 2,546 bunkers sold during the same period in 2008.
Cheaper bunker prices are believed to be attracting more ships, analysts believe.
Singapore sold 34.9 million tonnes of bunkers in 2008 and the industry annually generates over $14.3bn revenue.