According to official data released on Wednesday, marine fuel sales in Singapore, the world’s largest bunker hub, hit new peaks in 2024. The surge was fueled by record container throughput and increased deliveries of alternative marine fuels. Sales reached 54.92 million metric tons, surpassing the previous record of 51.82 million tons set in 2023, as the Maritime and Port Authority of Singapore (MPA) reported.
Container throughput rose to 41.12 million twenty-foot equivalent units (TEUs) in 2024, marking a new record. Similarly, annual vessel arrival tonnage reached an all-time high of 3.11 billion gross tons (GT).
The year also saw an increase in bunker volumes as shipping tensions in the Red Sea reshaped refuelling patterns and boosted demand for marine fuel. Additionally, shipowners embraced more alternative fuels to support emission reduction efforts, according to industry sources.
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Sales of high-sulphur marine fuel saw significant growth in 2024, reaching 20.15 million tons—a 21% increase compared to 2023, according to calculations based on MPA data. This rise was driven by a growing number of vessels equipped with scrubbers.
Conversely, sales of low-sulphur fuel declined by 4% year-on-year to 29.58 million tons. Meanwhile, alternative bunker fuel sales surpassed one million tons for the first time, hitting 1.34 million tons in 2024, doubling their volume from the previous year.
