- Global energy major Shell has been named as Singapore’s top bunker supplier by volume in 2020.
- The demise of Hin Leong subsidiary Ocean Bunkering Services appearing to benefit a number of the largest global oil firms.
Shell’s Singapore bunkering unit, Shell Eastern Trading Pte Ltd, became the top marine fuel supplier in the world’s biggest ship refueling hub in 2020, reports Reuters.
The biggest leaps
Singapore-based Sentek Marine & Trading Pte Ltd fell one spot to third in 2020, behind Equatorial Marine Fuel Management Services Pte Ltd, as it climbed from fourth in the previous year.
PetroChina International (S) Pte Ltd, the top supplier by volume in 2019, dropped to fourth place in 2020 followed by BP Singapore Pte Ltd in fifth, MPA data showed.
The biggest jumps the MPA’s ranking included were SK Energy International Pte Ltd which ranked seventh in 2020, up from 15th in the previous year as well as Chevron Singapore Pte Ltd which climbed from 21st to ninth in 2020.
The total number of licensed bunker suppliers steadied at 45 companies in 2020, the same from 2019 which marked a sixth year of reduction supplier numbers amid narrowing profit margins, strict enforcement checks and few new license awards.
Licensing suspended
Trafigura’s TFG Marine and Mercuria’s Minerva Bunkering were the first to issued new bunkering licenses in April by the port authority since 2017, and were ranked 16th and 22nd, respectively.
However, the license of Ocean Bunkering Services Pte Ltd (OBS), remained suspended since around October, as it failed to meet licensing requirements.
3-year rise in marine fuels
Sales of marine fuels in Singapore rose to a three-year high in 2020, supported by resilient December volumes and bucking a weaker global trend as the coronavirus pandemic suppressed demand. Bunker sales amounted to 49.8 million tonnes, an increase of 5.0% year-on-year.
The city state accounts about 20% of global bunkering sales.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Reuters
