Energy and commodities giant Vitol has entered into the Singapore ship bunkering market with the takeover of local outfit Sinanju Tankers.
Vitol Marine Fuels, a subsidiary of the Vitol Group, has acquired 100% equity interest of Sinanju Tankers Holdings and renamed the company Vitol Bunkers.
Sinanju’s fleet is comprised of 15 Singapore-flagged bunker tankers, including Singapore’s first LNG-powered dual fuel bunker tanker Marine Vicky.
“With the acquired entity’s valuable expertise in bunker tanker operations and Vitol’s existing strength on the bunker oil supply side, Vitol Bunkers will be in a strong position to provide a high quality, seamless end to end delivered bunker supply service in Singapore and internationally,” said Dato’ Kho Hui Meng, president and CEO of Vitol Asia.
