- News
- Insights
- Bunkerworld .
- Monjasa sees near 50% bunker sales growth in Southeast Asia despite COVID-19
.
-
Jul 4
-
Jun 30
-
Jun 27
-
Jun 22
-
Jun 16
-
Jun 10
-
Jun 6
-
May 30
-
May 26
-
May 18
-
May 13
-
May 11
-
May 4
-
Apr 26
-
Apr 22
-
Apr 11
-
Apr 7
-
Apr 6
-
Mar 23
-
Mar 15
-
Mar 8
-
Feb 28
-
Feb 11
-
Feb 2
-
Feb 1
-
Jan 17
-
Dec 27
-
Dec 10
-
Dec 3
-
Nov 25
-
Nov 16
-
Oct 29
-
Oct 25
-
Oct 12
-
Oct 8
-
Oct 4
-
Sep 30
-
Sep 29
-
Sep 24
-
Sep 23
-
Sep 17
-
Sep 10
-
Sep 9
-
Sep 6
-
Sep 2
-
Aug 30
-
Aug 27
-
Aug 23
-
Aug 20
-
Aug 17
-
Aug 13
-
Aug 9
-
Aug 3
-
Jul 29
-
Jul 26
-
Jul 22
-
Jul 15
-
Jul 5
-
Jul 2
-
Jun 28
-
Jun 22
-
Jun 18
-
Jun 11
-
Jun 7
-
Jun 4
-
May 31
-
May 28
-
May 25
-
May 21
-
May 5
-
Apr 28
-
Apr 27
-
Apr 26
-
Apr 23
-
Apr 22
-
Apr 19
-
Apr 16
-
Apr 15
-
Apr 14
-
Apr 13
-
Apr 9
-
Apr 7
-
Apr 5
-
Mar 31
-
Mar 23
-
Mar 19
-
Mar 17
-
Mar 12
-
Mar 5
-
Mar 4
-
Mar 3
-
Mar 1
-
Feb 25
-
Feb 24
-
Feb 22
-
Feb 17
-
Feb 12
-
Feb 10
-
Feb 9
-
Feb 5
-
Feb 1
-
Jan 27
-
Jan 25
-
Jan 22
-
Jan 20
-
Jan 18
-
Jan 13
-
Jan 11
-
Jan 8
-
Jan 7
-
Jan 4
-
Dec 31
-
Dec 28
-
Dec 24
-
Dec 21
-
Dec 14
-
Dec 9
-
Dec 9
-
Dec 8
-
Dec 4
-
Dec 2
-
Dec 1
-
Nov 30
-
Nov 27
-
Nov 25
-
Nov 23
-
Nov 17
-
Nov 16
-
Nov 11
-
Nov 10
-
Nov 6
-
Nov 5
-
Nov 4
-
Nov 2
-
Oct 29
-
Oct 27
-
Oct 23
-
Oct 22
-
Oct 20
-
Oct 14
-
Oct 12
-
Oct 6
-
Oct 5
-
Sep 30
-
Sep 25
-
Sep 21
-
Sep 18
-
Sep 16
-
Sep 15
-
Sep 14
-
Sep 9
-
Sep 8
-
Sep 4
-
Sep 2
-
Aug 31
-
Aug 27
-
Aug 25
-
Aug 20
-
Aug 19
-
Aug 14
-
Aug 12
-
Aug 7
-
Aug 6
-
Aug 4
-
Jul 31
-
Jul 30
-
Jul 29
-
Jul 28
-
Jul 24
-
Jul 20
-
Jul 16
-
Jul 13
-
Jul 9
-
Jul 9
-
Jul 7
-
Jun 30
-
Jun 26
-
Jun 25
-
Jun 23
-
Jun 22
-
Jun 22
-
Jun 19
-
Jun 16
-
Jun 10
-
Jun 9
-
Jun 5
-
Jun 2
-
May 29
-
May 26
-
May 21
-
May 20
-
May 15
-
May 12
-
May 8
-
May 5
-
May 4
-
May 1
-
Apr 28
-
Apr 24
-
Apr 23
-
Apr 22
-
Apr 21
-
Apr 20
-
Apr 17
-
Apr 16
-
Apr 16
-
Apr 3
Bunker fuel supplier Monjasa said that so far this year it had supplied close to 50% more marine fuel volumes across Southeast Asia compared to last year, with Singapore being a key market spurring this growth.
”During our 12 years in Singapore, we have never recorded a stronger demand for our products and services than now,” Morten Jacobsen, general manager for the company in Singapore, said in a LinkedIn post on Sept. 28.
In 2019, Monjasa supplied a total of 517,424 mt of marine fuels across Southeast Asia.
The company has so far this year also welcomed 22% more new customers in the region, which has also contributed to its growth, it said, adding that pricing as well as full visibility on sourcing and supply are some of the factors that have helped the company achieve this momentum.
Singapore bunker prospects
“We work across niche markets like Vietnam, Thailand and South Korea, but currently, the Port of Singapore is where we see the most significant rise on the demand-side," Jacobsen said.
Monjasa's strong growth comes at a time when the bunker market is grappling with the ill-effects of the global coronavirus pandemic, which has brought unprecedented demand destruction for oil and oil products in its wake.
"Forecasts we've heard from our members [for 2020 bunker demand] range from minus 7% to minus 17% ... What we've seen is that demand is gravitating towards safe havens," Unni Einemo, director, International Bunker Industry Association, said on Sept. 16. during the virtual APPEC 2020 event.
Still, demand has been quite resilient at ports where, from the buyer's perspective, the quality is most guaranteed and where the suppliers are or have been providing the best quality service, she said at the time, noting that a case in point was Singapore, where bunker sales remain strong.
Singapore is the world’s largest bunkering port. Singapore's bunker sales have increased 5.3% year on year over January-August, with low sulfur fuel oil forming a substantial part of its bunker fuel mix, data from the Maritime and Port Authority of Singapore showed.
Demand for low sulfur bunker fuel has been stable in Singapore in September with total sales expected to be at similar levels or slightly higher from August, sources told S&P Global Platts on Sept. 29.
"It’s likely that demand [for LSFO] will pick up further in the fourth quarter when the market starts discussing tenders for the coming year (2021). Right now, the market is waiting for those tenders to be announced to get a sense of where prices are at,” a Singapore-based bunker trader said.
Meanwhile demand for high sulfur fuel oil is also expected to remain robust.
"I’m expecting this to continue as more vessels are expected to complete scrubber installations by the end of the year,” another bunker trader said.
Bunkerworld .,