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Singapore 2017 bunker fuel sales up 4.2% to record high 50.6 million mt

Singapore (Platts)--12 Jan 2018 955 am EST/1455 GMT


Sales of bunker fuel in Singapore in 2017 rose 4.2% to a record 50.6 million mt, data from the Maritime and Port Authority of Singapore showed Friday.

Sales of marine fuel at the port in December was recorded at 4.26 million mt, down 1.3% month on month but up from 3.9 million mt in December 2016.

Container throughput in Singapore grew 8.9% to 33.7 million twenty-foot equivalent units (TEUs) in 2017, from 30.9 million TEUs in 2016.

The increase in throughput was spurred by improvements in global trade growth and the repositioning of major shipping alliances, the MPA said.

Total cargo tonnage handled last year increased 5.5% to 626.2 million mt.

The Singapore Registry of Ships maintained its growth momentum.

In 2017, the total tonnage of ships under the Singapore flag increased 0.9% to 88.8 million gross tons, consolidating Singapore's position as one of the top 10 ship registries in the world.

Overall, annual vessel arrival tonnage increased 5.1% last year to 2.8 billion gross tons.

The maritime industry contributes 7% of Singapore's GDP and employs over 170,000 people.

--Esther Ng, esther.ng@splgobal.com

--Edited by Dan Lalor, daniel.lalor@spglobal.com




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