Singapore Bunker News

Singapore's marine fuel sales, also known as bunker sales, rebounded in July after a sharp decline in June, while monthly container throughput hit a year-to-date high, official data on Monday showed.Bunker sales at Singapore are a key indicator of sentiment at the world's largest refuelling hub for ships, which is also one of the busiest shipping lanes globally.The volume totalled 4.52 million metric tons in July, up 14.9% month-on-month and 9.7% higher year-on-year, Singapore's…

-Monthly sales of marine fuel, also known as bunker fuel, hit over five-year highs at the world's largest refuelling hub Singapore in May as vessel arrivals spiked amid firm container throughput, official data showed on Wednesday.Singapore's bunker sales are an indicator of sentiment at one of the world's major ports and demand also affects fuel oil refining margins in Asia. Sales extended gains for a third consecutive month to 4.52 million tonnes, up 6.2% month-on-month, Singapore's Maritime and Port Authority data showed.

TFG Marine, majority owned by commodities trader Trafigura, aims to increase its marine fuel sales volume by up to 20% this year through expansion in Africa, the UK and the Mediterranean, a senior company executive said.The fuel supplier is looking to expand its volumes to 11-12 million tonnes, up from about 10 million tonnes in 2022, its head of bunkering Kenneth Dam told Reuters on the sidelines of the Fujairah Bunkering and Fuel Oil Forum (FUJCON) 2023.It plans to expand operations in several existing and new markets…

Premiums of marine fuel, also known as bunkers, are set for a bumpy recovery in March in Singapore, the world's largest bunkering port, as refuelling demand from the shipping sector has recently waned, multiple trade sources said.A weaker Singapore bunker market reflects slowing activity at one of the world's most major ports that sits on a crucial shipping lane, while lower demand will also weigh on Asia's fuel oil refining margins.Bunker premiums for the most actively traded very low sulphur fuel oil (VLSFO) grade…

Marine fuel sales at Singapore jumped to a 22-month high in November, latest official data showed on Tueday, as lower prices lifted buying interest at the world's largest bunkering hub.November bunker sales totalled 4.37 million tonnes, climbing 3% month-on-month and up 4% year-on-year, data from Singapore's Maritime and Port Authority showed.The higher sales came despite lower vessel arrivals for bunkering at Singapore, which dipped dipped by 4% month-on-month at 3,299 vessel calls, although edged higher by 3% year-on-year.

Marine fuel sales at the world's largest bunkering hub Singapore held steady at 4.12 million tonnes in August, with the number of vessel arrivals for bunkering little changed, official data showed Tuesday.Sales for low-sulphur marine fuels were steady to higher from the previous month, though total monthly sales were weighed down by a slight decline in high-sulphur fuel oil (HSFO). "HSFO bunker volumes were lower, potentially due to the two-month suspension of Glencore's bunkering license in Singapore…

The Maritime and Port Authority of Singapore (MPA) has awarded two new bunker supplier licences to Minerva Bunkering and TFG Marine, following its call for applications for new licences in December 2019.Bunkering services in the Port of Singapore and oil trading remain resilient despite the global COVID-19 pandemic. Bunker sales in Singapore grew 5.4%, from 12.07 million tonnes in the first quarter of 2019 to 12.72 million tonnes in the first quarter of 2020.MPA and Enterprise Singapore (ESG) welcome the entry of Minerva Bunkering and TFG Marine, which will consolidate Singapore’s position as the global bunkering and oil trading hub.These…

The Maritime and Port Authority of Singapore (MPA) revoked the bunker supplier license of Southernpec (Singapore) Pte Ltd., effective May 29, 2019. During a recent enforcement check, MPA found that Southernpec employees engaged in bunker malpractices, which include the use of magnets to interfere with the mass flow meter during bunkering operations. Its cargo officers also did not record the information in the bunkering documents accurately, which breached the terms and conditions of its bunker supplier license.

Sales of marine fuels in Singapore, the world's biggest ship fueling port by volume, totaled 49.8 million tonnes in 2018, down 2 percentfrom a record the year before, the Maritime and Port Authority of Singapore (MPA) said on Monday.December sales volumes of marine fuels, also known as bunkers, reached an 11-month high of 4.308 million tonnes, up 10 percent from November and the second-highest for the year, the data showed.The strong month helped lift Singapore's 2018 marine fuel sales figures to the second highest on record…

Maritime and Port Authority of Singapore (MPA) has allocated about USD 3.64 million under the Green Energy Programme to support the development and use of cleaner alternative marine fuels such as biofuels and methanol. Senior Minister of State, Dr Lam Pin Min announced initiatives by Maritime and Port Authority of Singapore (MPA) said that companies can use the fund in their research and development in alternative fuels to meet future greenhouse gas emissions regulations.He said, to ready the Singapore bunker industry ahead of the International Maritime Organization’s 0.5 per cent global sulphur cap taking effect from January 2020 and to support R&D in alternative fuels, as well as digitalisation.

The Singapore fuel oil market has rallied this week as inventories have dropped at the same time that some supplies in the region do not meet the standards for use as shipping fuel, further reducing the amount of supply available, five trade sources said.Cash premiums for 380-centistoke fuel oil, which is primarily sold for ship fuel, known as bunker fuel, have soared this week to the highest since May 2017. The premium of the prompt-month swap for the fuel over the second-month swap has jumped to the highest since October…

Aegean Bunkering Pte Ltd on Friday said it had this week left the world's largest marine fuels market in Singapore after handing back its supply and craft operator licences. The company had announced in October that it would halt physical supply operations in Singapore by January amid heightened commercial pressures after the city-state adopted tougher bunkering procedures. Aegean Bunkering, headquartered in Greece, was last year ranked the 20th largest marine fuels supplier by volume in Singapore from a total of 55, data from the Maritime and Port Authority of Singapore (MPA) showed.

Universal Energy entered voluntary liquidation on Oct 3, tightening credit in Singapore's bunker fuel market. Shipping fuel suppliers are filing millions of dollars in claims over unpaid marine fuel bills against now defunct Singapore-based peer Universal Energy, formerly one of the city state's largest bunker suppliers but which has now entered liquidation. Universal Energy, ranked as Singapore's third-largest bunker fuel supplier by volume in 2016, had its shipping fuel licences revoked by the Maritime and Port Authority (MPA) in August for actions that could give a false impression of how much fuel it was delivering to buyers. Overall creditor claims against Universal Energy - which went into voluntary liquidation on Oct.

The Maritime and Port Authority of Singapore (MPA) will not be renewing the bunker supplier licences of Panoil Petroleum Pte Ltd and Universal Energy Pte Ltd when they expire on 31 August 2017. The bunker craft operator licence of Universal Energy Pte Ltd will also not be renewed. Both companies will no longer be allowed to operate as a bunker supplier and bunker craft operator in the Port of Singapore. Panoil Petroleum Pte Ltd made unauthorised alterations on the pipelines of their bunker tankers and has accumulated demerit points[1] for non-compliances to the bunkering procedures. Separately, Universal Energy Pte Ltd accumulated demerit points for delivery of bunkers that were severely aerated as well as stoppages during bunkering operations.

The International Bunker Industry Association (IBIA) believes the benefits achieved from adopting mandatory use of Mass Flow Meters (MFMs) for marine fuel oil deliveries in Singapore must be protected by effective enforcement, and that using approved MFMs to measure quantity being loaded onto bunker tankers as well as that delivered to ship would address a missing link in supply chain integrity. The Singapore regulation that came into effect on 1 January 2017 was widely perceived to be a significant step forward in promoting greater transparency and ensuring the accuracy of delivered tonnage in the port, but it hasn’t all been plain sailing.

Singapore-based bunker barge operator New Ocean Maritime was fined 81,000 Singapore dollars ($57,100) on Jan. 17 for providing services without a licence between Jan. 3, 2015 and March 28, 2015, the Singapore port authority said on Tuesday. The company was also found to have used the bunker craft operator licence of Seaquest Tanker, another Singapore-based bunker services provider, which had its permit revoked last year on April 26 for erroneous record-keeping. Singapore is the world's largest ship refuelling port, with thousands of vessels calling every year to take on bunkers, as shipping fuel is known in the industry. "MPA adopts a zero tolerance approach towards bunkering malpractices and will not hesitate to take action against any unlicensed entity operating in the port of Singapore…

A set of Standard Operating Procedures (SOP) for surveyors has been developed by the International Bunker Industry Association (IBIA) to help the industry manage new regulations, standardize best practice and build trust in the market, IBIA announced. IBIA said the guidelines have been developed in response to the introduction of the Singapore Mass Flow Meter (MFM) Technical Reference or TR 48:2015 launched on February 16, 2016, in support of the mandatory use of MFM systems for all marine fuel oil (MFO) deliveries in Singapore with effect from January 1, 2017. The Marine and Port Authority of Singapore (MPA) requires all bunker suppliers…

Singapore’s September bunker fuel sales fell 10.3% in September on month but rose 9.3% on year to 3.85 million mt. The port of Singapore has recorded a fall in container throughput in September. These finding are based upon the data released Tuesday by the Maritime and Port Authority (MPA) of Singapore. The month-on-month drop in bunker fuel sales in the world's biggest bunkering port follows the all-time monthly high of 4.29 million mt seen in August. Traders expect volumes to dip further in October due to an underlying rise in crude oil prices. Container throughput moved in September was recorded at 2.43m teu, a decrease of 13.5% compared to the previous corresponding period.

Singapore bunker fuel sales fell 7.7% month on month but rose 3.62% year on year, to 3.4 million mt in February, official figures released by the Maritime and Port Authority of Singapore Friday. Bunker volumes drop to lowest level in eight months, but sales during the first two months are the highest ever recorded. Total sales at the world's leading bunker port decreased last month by 284,100 tonnes, or 7.7 percent, to 3,396,000 tonnes, down from 3,680,100 tonnes in January. It is the third-lowest figure in the last 12 months (between March 2014 and February 2015). In comparison with the corresponding month last year, February volumes were up by 118,600 tonnes, or 3.6 percent.

Maritime and Port Authority (MPA) of Singapore said that Singapore bunker fuel sales rose 5.34% month on month and up 12.33% year on year, to 3.58 million mt in March reports Platts. The vessel arrivals in Singapore for bunker fuel rose to 3,295 in March, up 9.65% from February and up 0.61% year on year, the data showed. According to official figures released by the MPA, the March volumes included 2.65 million mt of 380 CST high sulfur fuel oil, 56,100 mt of 180 CST HSFO and 721,400 mt of 500 CST HSFO. For the low sulfur grades, demand for 380 CST low sulfur fuel oil continued falling in March, dropping to a record low of 100 mt from 200 mt in February, according to MPA data. LSFO sales also included 200 mt of 500 CST.

Singapore, the world's biggest bunkering port, plans to end the so-called "cappucino effect" in ship fuelling through new meters designed to stop suppliers from short-changing customers, although the industry is warning of a short-term sales dip. The Maritime and Port Authority (MPA) of Singapore, which sold more than 42 million tonnes of bunker oil in 2013, will be the world's first port to mandate the use of mass flow meters for fuel oil bunkering. The meters show the actual mass of fuel delivered, preventing suppliers from boosting their profits by injecting air into the fuel as it is pumped aboard. The practice, known as the "cappucino effect"…

Dynamic Oil Trading, the global trading company for marine fuels and lubricants, has announced the appointment of Jacky Yen as a new bunker trader for its Singapore bunker trading team. Educated at University College Dublin, Jacky Yen brings considerable experience of working with suppliers and buyers in the Singapore bunker market. Prior to joining Dynamic Oil Trading he worked at another marine fuel company in the Lion City for two years, where his responsibilities included bunker trading, operational liaison for fuel deliveries and acting as the point of contact with the Singapore MPA.

Major oil companies, trade firms to expand market share; tight credit hits small retailers. The collapse of OW Bunker in the wake of an alleged fraud at its Singapore trading unit will shake up the city state's more than $25 billion marine fuel market, the world's largest, as major companies expand and small ones shrink amid a credit squeeze. OW Bunker, a leading supplier of marine fuel oil known as "bunker", filed for bankruptcy in Denmark a week ago after it revealed losses of at least $125 million at Dynamic Oil Trading, prompting banks to refuse to provide new credit lines. In a market that relies heavily on open credit, traders fear the incident could create a domino effect, pulling more companies down with it.