The Maritime and Port Authority of Singapore (MPA) and Enterprise Singapore (ESG) have granted two new bunker supplier licences to TFG Marine and Minerva Bunkering.

Singapore’s MPA had previously sought new license applications in December last year.

The Port of Singapore’s bunkering services and oil trading are reported to be unaffected by the Covid-19 pandemic.

In the first quarter of this year, the bunker sales were 12.72 million tonnes, an increase of 5.4% compared to the first quarter of last year.

Covid-19 Report — Updated twice a week Understanding the Covid-19 outbreak, the economic impact and implications for specific sectors

Covid-19 executive briefing report cover
GlobalData

Our parent business intelligence company

In a statement, Singapore’s MPA said: “These two new players will increase the supply of marine fuel that is compliant with the International Maritime Organization (IMO) 2020 sulphur regulations in the Singapore bunker market.

“It brings the total number of MPA-licensed bunker suppliers to 45 in the Port of Singapore. Minerva Bunkering and TFG Marine will also be required to each operate at least two clean energy dual-fuelled bunker barges. This will help drive more sustainable bunkering activities in the Port of Singapore.”

The licencing is expected to boost the country’s ecosystem of global companies such as Shell and BP and other trading companies such as Glencore, Vitol and Mitsui.

How optimistic are you about your company’s growth prospects?

View Results

Loading ... Loading ...

MPA plans to work with different stakeholders for periodic reviews to develop a regulatory framework and ensure the quality and availability of bunkers.

In November last year, Wartsila and terminal towage operator PSA Marine partnered to conduct trials of a dynamic positioning (DP) system in the Port of Singapore under real-world conditions.