Equatorial, TFG and Sinopec are Singapore's top three marine bunker suppliers in 2023
(Reuters) - Equatorial Marine Fuel Management Services maintained its top spot among marine bunker suppliers in Singapore, the world's largest bunker hub, while Sinopec Fuel Oil Singapore propelled into No.3 in 2023, latest data from the port authority showed.
Equatorial maintained its top position for a second consecutive year, while Trafigura's TFG Marine rose one spot to become the second largest supplier, data from Singapore's Maritime and Port Authority showed.
Sinopec Fuel Oil Singapore jumped 16 spots to become the third largest supplier, the data showed. The company ramped up bunker sales volumes significantly in 2023 following its bunker supplier license award in 2022, said industry sources.
Sinopec has bumped up its market share particularly for the high-sulfur market, rivalling PetroChina to become a dominant player in that category. The company has also expanded its storage capacity regionally.
PetroChina International Singapore dipped two spots to the fourth position in 2023, while Vitol Bunkers dipped one spot to rank fifth.
Meanwhile, Maersk Oil Trading, Chevron Singapore and BP Singapore were the top three marine biofuel suppliers in 2023.
Singapore marine fuel sales hit an all-time high of 51.82 million metric tons last year, driven by record container throughput and increased demand by shippers to trial alternative bunker fuels.
Comments