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By Jack Wittels (Bloomberg) –For decades, a steady stream of ocean tankers has filed back and forth between a small cluster of ports in northwest Europe and the Baltic Sea. Typically,...
By Jeslyn Lerh (Reuters) Equatorial Marine Fuel Management Services rose one spot to become the top marine fuel supplier at world’s largest bunkering hub Singapore in 2022, official data showed on Monday.
Equatorial overtook PetroChina International Singapore Pte Ltd, which dipped from its top ranking in 2021 to second spot in 2022, while Trafigura’s TFG Marine Pte Ltd climbed two spots to become the third-largest supplier, data from the Maritime and Port Authority (MPA) of Singapore showed.
Vitol Bunkers Pte Ltd maintained fourth in 2022 as with the previous year, while Shell Plc’s Singapore bunkering unit, Shell Eastern Trading Pte Ltd, fell two spots to fifth.
Chevron Singapore Pte Ltd and Minerva Bunkering Pte Ltd each rose by four spots, respectively, to the eighth and ninth positions, the MPA data showed.
Eng Hua Company Pte Ltd climbed by six spots to the 11th position. The company has expanded its bunkering fleet and team in the past year, according to market sources.
Glencore Singapore Pte Ltd fell seven spots to the 13th place. The supplier’s license was suspended for two months in August last year after the company was found to have supplied contaminated fuel to ships.
Sinopec Fuel Oil Singapore, the latest entrant to Singapore’s licensed bunker supplier space, took the 19th spot for 2022. The company had been growing its bunkering volume after it obtained a bunker license last year.
Meanwhile, Toyota Tsusho Petroleum Pte Ltd fell seven places to the 29th position. The company’s trading volumes in the Singapore bunkering space have slowed since the start of last year, with some traders having departed from their team, market sources said.
Sales of marine fuels, known as bunkers, fell 4.3% year-on-year to 47.9 million tonnes in 2022 at Singapore as macroeconomic headwinds weighed on global ship refueling demand.
(Data from Maritime and Port Authority of Singapore, Reporting by Jeslyn Lerh; Editing by Rashmi Aich, Reuters)
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