The Maritime and Port Authority of Singapore (MPA) has awarded new bunker supplier licences to Minerva Bunkering and TFG Marine.
MPA believes the two new players will increase the supply of marine fuel that is compliant with the IMO 2020 sulphur regulations in the Singapore bunker market.The two companies will be required to each operate at least two clean energy dual-fuelled bunker barges.
The license award brings the total number of MPA-licensed bunker suppliers to 45 in the Port of Singapore.
Minerva Bunkering and TFG Marine are affiliate companies of Mercuria Group and Trafigura respectively, two of the world’s largest independent energy trading companies.
According to MPA, bunkering services in the Port of Singapore and oil trading remain resilient despite the global COVID-19 pandemic. Bunker sales in Singapore grew 5.4%, from 12.07m tonnes in the first quarter of 2019 to 12.72m tonnes in the first quarter of 2020.
“Singapore continues to undergo a successful IMO 2020 transition to serve the needs of the industry during COVID-19 whilst maintaining its position as the global bunkering hub,” MPA said.