PetroChina tops list of marine fuel suppliers in Singapore

PetroChina's Singapore bunkering unit moved up a notch to be the top marine fuel supplier in the world's biggest ship refuelling hub last year, official data showed, as the number of suppliers fell for a sixth year in a row.

Singapore-based Sentek Marine & Trading climbed one spot to second, while Singapore's Ocean Bunkering Services fell two places to third.

Tough market conditions and a crackdown by the authorities on industry malpractice cut the number of licensed bunker suppliers to 45 from 51 a year earlier, the Maritime and Port Authority of Singapore's latest data showed.

The biggest leaps up the ranking included Palmstone Tankers & Trading, which rose to 13th place from 34th a year ago, while Glencore Singapore jumped 14 places to seventh spot.

Hong Lam Marine marked the biggest drop, falling to 37th place from 17th in 2018.

Brightoil Petroleum fell 16 places to 44th, while Exxonmobil Asia Pacific fell 15 spots to 22nd.

Singapore's bunkering sales volumes last year fell 5 per cent in the face of increased regional competition. The city state accounts for about 20 per cent of global bunkering sales.

However, most suppliers saw profit margins improve last year, due to new global rules forcing shippers to switch to new and cleaner fuels, trade sources said.

Traders said the decline in bunker supplier numbers has had a limited impact, as the top 20 suppliers account for the vast majority of delivered volumes.

REUTERS