Asia/Pacific News
MPA: Singapore Bunker Industry has Proven to be Resilient in the Face of a Challenging 2015
The Singapore bunker industry, the biggest in the world by volume, has shown its resilience in the face of last year's tough market conditions, Captain M Segar, Assistant CEO of Operations for the Maritime and Port Authority of Singapore (MPA) said Thursday in his opening comments at the Singapore Maritime Week (SMW) 2016 International Bunker Industry Association (IBIA) gala dinner.
"2015 was a challenging year for the maritime industry. However, I am pleased to note that the bunker industry in Singapore has proven to be resilient and Singapore has maintained her position as the leading bunkering port," said Segar.
"At a time of economic uncertainty, 45.2 million tonnes in total bunker sales was delivered in 2015, an all-time record high. Bunker sales also achieved 11.8 million tonnes in Q1 2016, an 11% increase year-on-year. This achievement is possible because of your strong support and efforts taken to move the industry forward.
"Thank you, and I believe we can all look forward to an even better performance for 2016."
Segar also highlighted that, through IBIA Asia, the organization worked with MPA on a number of initiatives, including the recent development of the Technical Reference for Mass Flow Meter Bunkering, TR48.
"With more than 600 members from 66 countries, IBIA plays a pivotal role acting as a bridge between suppliers and end users of marine fuels," said Segar, noting that the two organisations will continue to work together on furthering the interests of Singapore's bunkering industry.
"The bunkering industry in Singapore has grown significantly over the years and I am confident that with the various stakeholders working together, the industry will continue to thrive and grow in the years to come. The perennial challenge for us will always be to remain competitive as we lead and shape the bunkering industry together."
Earlier this year Ship & Bunker reported that industry veteran Simon Neo had been appointed as a IBIA's new Regional Manager to manage its office in Singapore, covering the Asia region.
