S&B ANALYSIS: Singapore Bunker Sales Slip Further in April
The total was dragged down on a monthly basis by HSFO sales after the contamination reported in Singapore in February and March.
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The total was dragged down on a monthly basis by HSFO sales after the contamination reported in Singapore in February and March.
The company reported net profit of $23.1 million from its marine division in the first quarter, up by 292% from the previous quarter and by 261% from Q1 2021.
The increase in quality problems may be related to the surge in bunker prices last month in the wake of Russia's war in Ukraine.
First-quarter conventional sales were up by 15.2% from the same period a year earlier and by 9.4% from the fourth quarter of 2021.
Total sales excluding marine lubricants advanced to 691,141 m3 in March, the most since December.