Energy Economy

19 Jan 2022

PetroChina Becomes Top 2021 Singapore Bunker Supplier

19 Jan 2022  by   

Chinese state-controlled PetroChina's Singapore subsidiary was the largest physical supplier of bunkers in Singapore last year, according to data from the city-state's Maritime and Port Authority (MPA).

PetroChina International Singapore rose to the top of the rankings after climbing three spots, while Equatorial Marine Fuel Management Services remained in second place. Shell Eastern Trading, which was the top supplier in 2020, fell back to third place. Vitol Bunkers rose six spots to fourth, while fellow trading firm Trafigura's TFG Marine rounded off the top five suppliers.

Singapore last year had 41 licensed bunker suppliers, down from 45 the previous year. Competition among suppliers in the world's largest bunkering hub has been increasing, with falling margins as a result. More consolidation is expected, said market participants.

Trading houses such as Vitol, Trafigura and also Mercuria's Minerva Bunkering, which rose to 13th place from 22nd, are newcomers to the Singapore bunker market, having secured their licences in early 2020.

Domestic supplier Sentek Marine and Trading fell from third to eighth position, after the company's founder in late 2020 was charged relating to oil product theft at Shell's Pulau Bukom refinery.

Singapore's total bunker sales rose by 0.3pc from a year earlier to 49.99mn t in 2021. The MPA data does not provide specific volumes by company.

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