Minimal disruption to S'pore bunker supply after OW Bunker collapse: MPA

A photo taken on Nov 6, 2014, showing the OW Bunker sign in front of OW Bunker headquaters in Aalborg. The Maritime and Port Authority of Singapore has said there will be minimal disruption to bunker supply in the Port of Singapore, despite the
A photo taken on Nov 6, 2014, showing the OW Bunker sign in front of OW Bunker headquaters in Aalborg. The Maritime and Port Authority of Singapore has said there will be minimal disruption to bunker supply in the Port of Singapore, despite the collapse of Danish firm OW Bunker. -- PHOTO: AFP

The Maritime and Port Authority of Singapore has said there will be minimal disruption to bunker supply in the Port of Singapore, despite the collapse of Danish firm OW Bunker.

There are currently more than 60 bunker suppliers here and OW Bunker Far East (Singapore) accounted for less than 3 per cent of the 42.6 million metric tonnes supplied to the local market last year, MPA said.

OW Bunker said last week that investors needed to assume that the company's equity has been wiped out after losses at Singapore-based Dynamic Oil Trading estimated at US$125 million (S$162 million).

MPA is working with the industry and the industry associations to mitigate any potential impact on bunkering operations in Singapore, the agency added.

To address any concerns from the industry, MPA said it is working with the Singapore Shipping Association and the International Bunker Industry Association to conduct dialogue sessions shortly.

"MPA will also work closely with the various stakeholders to ensure that bunkering operations in Singapore continue as smoothly and normally as possible."

The list of MPA-licensed bunker suppliers can be found on the MPA website.