The performance of Singapore’s foreign bunkering and ship chandlers sector in the second quarter (Q2) of 2018 continued its downward fall on year, according to data compiled by the Department of Statistics (DOS) on Monday.
The data was presented as the Wholesale Trade Index (WTI) to measure the performance of the whole sale trade industry, which tracks changes within the republic’s foreign and domestic sectors.
The foreign WTI, which measures wholesale sales outside Singapore, showed performance of the bunkering and ship chandlers sector down by 7.9% on year during Q2 2018; performance in the similar sector grew 2.0% when compared to a quarter on quarter basis.
Interestingly, DOS recorded the country’s foreign bunkering and ship chandlers sector experiencing a downward fall of 5.2% on year in Q1 2018.
The domestic WTI, which records wholesale sales within Singapore, posted a 4.0% increase in the republic’s bunkering and ship chandlers sector on year in Q2 2018; when compared to the earlier quarter the sector posted a 4.1% gain.
The gains in the domestic bunkering and ship chandlers sector was “due to higher prices of petroleum and chemical products” seen during Q2 2018, says DOS.
Related: Singapore: Bunkering and ship chandlers sector in Q1 falls
Published: 21 August, 2018
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In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
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Vopak BL was a non-essential document with no contractual force and had no effect as a contract of carriage or as a document of title, states written Judgement issued by Singapore Court of Appeal.
