Price for Petroleum Gases and Other Gaseous Hydrocarbons in Singapore - 2022

Contents:

1. Price for Petroleum Gases and Other Gaseous Hydrocarbons in Singapore (CIF) - 2022
2. Price for Petroleum Gases and Other Gaseous Hydrocarbons in Singapore (FOB) - 2022
3. Imports of Petroleum Gases and Other Gaseous Hydrocarbons in Singapore
4. Exports of Petroleum Gases and Other Gaseous Hydrocarbons in Singapore

Price for Petroleum Gases and Other Gaseous Hydrocarbons in Singapore (CIF) - 2022

In 2022, the average import price for petroleum gases and other gaseous hydrocarbonses amounted to $729 per ton, rising by 42% against the previous year. Over the period under review, the import price, however, saw a slight curtailment. The pace of growth appeared the most rapid in 2021 an increase of 52%. Over the period under review, average import prices attained the maximum at $806 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($1,334 per ton), while the price for Malaysia ($602 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Equatorial Guinea (+0.4%), while the prices for the other major suppliers experienced a decline.

Price for Petroleum Gases and Other Gaseous Hydrocarbons in Singapore (FOB) - 2022

In 2022, the average export price for petroleum gases and other gaseous hydrocarbonses amounted to $1,545 per ton, increasing by 55% against the previous year. Over the period under review, the export price recorded a measured expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 76% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($2,854 per ton), while the average price for exports to Vietnam ($727 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+9.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Petroleum Gases and Other Gaseous Hydrocarbons in Singapore

Imports of petroleum gases and other gaseous hydrocarbonses into Singapore contracted slightly to 11M tons in 2022, dropping by -3.9% against the year before. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. As a result, imports attained the peak of 11M tons, and then contracted in the following year.

In value terms, imports of petroleum gases and other gaseous hydrocarbonses soared to $7.7B in 2022. Over the period under review, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 76%. Over the period under review, imports of attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Petroleum Gases and Other Gaseous Hydrocarbons to Singapore in 2022:

1. Indonesia (4.9M tons)
2. Australia (2.5M tons)
3. Malaysia (1.8M tons)
4. United States (0.5M tons)
5. Qatar (0.4M tons)
6. Egypt (0.1M tons)

Exports of Petroleum Gases and Other Gaseous Hydrocarbons in Singapore

In 2022, the amount of petroleum gases and other gaseous hydrocarbonses exported from Singapore contracted markedly to 212K tons, reducing by -73.5% against 2021. Over the period under review, exports saw a precipitous descent. The most prominent rate of growth was recorded in 2021 with an increase of 27%. As a result, the exports attained the peak of 800K tons, and then declined rapidly in the following year.

In value terms, exports of petroleum gases and other gaseous hydrocarbonses dropped dramatically to $327M in 2022. Overall, exports, however, continue to indicate a moderate expansion. The pace of growth was the most pronounced in 2021 with an increase of 124%. As a result, the exports reached the peak of $799M, and then reduced dramatically in the following year.

Top Export Markets for Petroleum Gases and Other Gaseous Hydrocarbons from Singapore in 2022:

1. Japan (73.1K tons)
2. Indonesia (39.4K tons)
3. Bangladesh (36.4K tons)
4. Malaysia (20.5K tons)
5. Vietnam (17.4K tons)
6. Taiwan (Chinese) (9.5K tons)
7. India (5.0K tons)
8. China (3.7K tons)
9. South Korea (2.7K tons)

Source: IndexBox Market Intelligence Platform