Monday, February 6, 2023
spot_img
HomeHeadlinesPetroChina Int’l tops Singapore’s list of 2021 marine fuel suppliers

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

PetroChina Int’l tops Singapore’s list of 2021 marine fuel suppliers

PetroChina International Singapore Pte Ltd climbed three spots to be the top marine fuel supplier in the world’s biggest ship refuelling hub in 2021 while the overall number of licensed suppliers fell by four to 41, official data showed on Monday.

Shell Plc’s Singapore bunkering unit, Shell Eastern Trading Pte Ltd, fell from the top ranking in 2020 to third, behind Singapore’s Equatorial Marine Fuel Management Services Pte Ltd in second place, unchanged from 2020, the Maritime and Port Authority (MPA) of Singapore data showed.

Vitol Bunkers Pte Ltd, previously Sinanju Marine Services Pte Ltd, climbed six spots to rank fourth in 2021 followed by Trafigura’s TFG Marine Pte Ltd in fifth, up 11 spots from 2020, the data showed.

Vitol, Trafigura and Mercuria are among the latest entrants to Singapore’s licensed bunker supplier space having each entered in early 2020.

Mercuria’s Minerva Bunkering Pte Ltd ranked 13th in 2021, up from 22nd in the year before.

The biggest leaps up MPA’s rankings in 2021 were Hong Lam Fuels Pte Ltd, up 14 places to 10th, and Sirius Marine Pte Ltd which was up by 12 spots to 29th.

Pegasus Maritime Pte Ltd saw the largest drop in rankings, falling 12 spots to 39th in 2021, followed by Palmstone Tankers & Trading Pte Ltd which dropped 10 places to 30th.

Singapore-based Sentek Marine & Trading Pte Ltd dropped five places to eighth in 2021, behind Equatorial Marine Fuel Management Services Pte Ltd in second place after climbing from fourth in the previous year, the latest data from the Maritime and Port Authority (MPA) of Singapore showed.

In late-2020, Sentek’s founder, which in 2018-2020 was among Singapore’s top three marine fuel suppliers, was charged for his involvement in a large-scale oil theft from Shell’s refinery in the city-state.

Total Marine Fuels Pte Ltd, a unit of France’s TotalEnergies, fell further down the rankings in 2021 to 19th place, down six spots from the previous year. Previously, in 2019 and 2018, the company ranked in sixth place.

The overall number of licensed bunker suppliers fell to 41 companies in 2021 from 45 in the year before.

Ocean Bunkering Services Pte Ltd and Hin Leong Marine International Pte Ltd, both units of defunct oil trader Hin Leong, dropped off the MPA’s list of 2021 bunker suppliers.

Pacific Bunkering Services Pte Ltd and A Dot Marine Pte Ltd were also dropped from the 2021 list.

Sales of marine fuels, known as bunkers, in Singapore climbed to a four-year high in 2021, led by higher sales in the first half of the year amid firm global demand for sea-borne freight.

The city state accounts for about 20% of global bunkering sales.

Source: Reuters

Related Posts

Video

Finance & Economy
Shipping News
Ports

LNG boosts CPLP 2022 results

Capital Product Partners L.P. released its financial results for the fourth quarter ended December 31, 2022. Highlights  Three-month periods ended December 31, 20222021Increase/(Decrease)Revenues$79.9 million$63.6 million26%Expenses$42.1 million$35.7...

Keppel Corp posts 9% drop in full-year profit

Singapore’s Keppel Corp said on Thursday its net profit for the year fell 9%, partly hurt by weak performance from its urban development business...

Stolt-Nielsen sees Q4 profits rise on strong markets

Stolt-Nielsen Limited reported unaudited results for the fourth quarter and full year 2022. The Company reported a fourth-quarter net profit of $95.3 million, with revenue...

Euronav delivers better-than-expected Q4 revenue

Euronav NV reported its non-audited financial results for the fourth quarter ended 31 December 2022. Hugo De Stoop, CEO of Euronav said: “Constrained vessel supply...

Wartsila: A challenging year with strong annual growth

HIGHLIGHTS FROM OCTOBER–DECEMBER 2022 Order intake decreased by 24% to EUR 1,638 million (2,150)Service order intake increased by 6% to EUR 791 million (747)Net sales...

Baltic index hits over 2-year trough on waning demand for larger vessels

The Baltic Exchange’s dry bulk sea freight index dropped to its lowest level in...

Luxury Cruise Market Holds Much Promise For Greek & East Med Hidden Gem Destinations

The appeal of Greece and the East Mediterranean as an ideal region for luxury...

Baltic index falls to over 2-year low as larger vessel rates slide

The Baltic Exchange’s dry bulk sea freight index fell to its lowest since June...

Baltic index logs worst month in 3 years

The Baltic Exchange’s main sea freight index registered its biggest monthly percentage fall in...

Baltic index snaps 9-day losing streak as panamax, supramax rates rise

The Baltic Exchange’s main sea freight index snapped its nine-session losing streak on Tuesday,...

DP World wins bid for development of a mega-container terminal at India’s Deendayal Port

DP World has won a major concession to develop, operate and maintain the mega-container terminal at Deendayal port in Gujarat, on the western coast...

Luxury Cruise Market Holds Much Promise For Greek & East Med Hidden Gem Destinations

The appeal of Greece and the East Mediterranean as an ideal region for luxury cruising will be one of the main highlights of the...

Port of Los Angeles proposes cruise terminal project

The Port of Los Angeles is inviting comments on a draft Request for Proposals (RFP) for the future development of a new Outer Harbor...

Port of Long Beach Closes 2022 with Second-Busiest Year

The Port of Long Beach marked its second-busiest year on record by moving 9.13 million twenty-foot equivalent units in 2022, allowing for a return...

Hapag-Lloyd AG acquires share in J M Baxi Ports & Logistics Limited

Hapag-Lloyd AG signed a binding agreement today under which it will acquire 35% of J M Baxi Ports & Logistics Limited (JMBPL) from a...