Ocean Bunkering Tops 2018 List of Singapore’s Largest Marine Fuel Suppliers
By Roslan Khasawneh SINGAPORE, Jan 25 (Reuters)– Singapore- based Ocean Bunkering Services (OBS) Pte Ltd covered the 2018 checklist of biggest aquatic gas providers running worldwide’s most significant ship refuelling center, information launched from the Maritime and also Port Authority (MPA) of Singapore revealed onFriday
OBS, bunkering arm of Singapore oil investor and also carrier Hin Leong Group, jumped to come to be Singapore’s leading aquatic gas distributor by quantity in 2018, after placing 8th in the year prior to and also 31st in 2016, the MPA information revealed.
Singapore is the globe’s biggest aquatic refuelling center, with sales amounting to 49.8 million tonnes in 2014.
Singapore providers of aquatic gas, or shelters, have actually come under stress in the previous number of years, nonetheless, because of harder guidelines and also reducing margins from boosted competitors, causing some firms leaving the marketplace.
OBS’s climb to the top of MPA’s distributor checklist came as little shock, however, as market individuals had actually kept in mind the business’s expanding impact in the marketplace throughout the year.
OBS decreased to comment when spoken to by phone.
In December 2017, an OBS spokesperson informed Reuters it saw the difficult market atmosphere and also “the narrowing down of industry participants as an avenue to consolidate our position and expand our reach.”
PetroChina International (Singapore) Pte Ltd took the 2nd area in MPA’s checklist, unmodified from 2017, the information revealed.
Sentek Marine & & Trading Pte Ltd, which placed initially on the checklist in 2017, slid to 3rd in 2014.
Other remarkable steps consist of Maersk Oil Trading Singapore Pte Ltd reaching 9th setting in 2018, from the 27th area in the previous year.
Reuters reported in October that Maersk Oil Trading– in a press by among the globe’s most significant ship gas purchasers right into the Asian bunkering center– had for the very first time rented oil storage space in Singapore in advance of the adjustments to worldwide gas requirements being available in 2020. (Reporting by Roslan Khasawneh; Editing by Tom Hogue)
( c) Copyright Thomson Reuters 2019.
