Asia/Pacific News

Phillips 66 Adds Fuel Oil Storage Capacity in Singapore: Report

by Ship & Bunker News Team

Thursday February 20, 2025

Oil refiner Phillips 66 has recently leased a new floating storage vessel along the Singapore and Malacca Straits for storing fuel oil.

The 300,000 metric tonnes capacity Southern Emperor is the latest addition to 19 existing fuel oil floating storage vessels along the straits chartered by various market participants, according to Reuters, citing market sources.

So far, Phillips 66 has been partially renting the EM Splendour for fuel oil storage, the report added.

The Singapore and Malacca Straits are a key location for fuel oil storage in Asia.

Singapore is the world's top bunkering port with annual sales over 50 million mt. In addition, it is a key shipping and trading hub for the region.

Ship & Bunker News Team
To contact the editor responsible for this story email us at editor@shipandbunker.com

Lauritzen Bulkers Sees Challenge Procuring Smaller Biofuel Blend Quantities

The firm said finding suppliers willing to deliver 40-100 mt stems of biofuel blends remains difficult.

Read in Full

BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low

Ship & Bunker's G20-VLSFO Index lost $1/mt to its lowest level since January 15 on Monday.

Read in Full

Imabari Shipbuilding to Invest in Daihatsu for Alternative-Fuel Engine Development

The shipbuilder aims to secure a stable supply of essential shipbuilding equipment while driving the development of alternative-fuel engine technologies.

Read in Full

	VLSFO		MGO
	$/mt	+/-	$/mt	+/-
Singapore	573.50	1.00	695.00	3.00
Rotterdam	542.00	2.00	686.50	6.50
Houston	565.50	5.00	738.50	12.50
Fujairah	569.50	0.50	773.50	3.00
APAC Average	640.00	0.50	839.00	1.00
Global 20 Ports Average	598.00	1.50	787.00	8.50
Global 4 Ports Average	562.50	1.50	723.50	6.50
Global Average Bunker Price	640.50	0.50	831.00	2.00

View Bunker Prices in 200+ Ports

19Feb

1INTERVIEW: Hafnia and Cargill to Set Up One of World's Largest Bunker Firms

Seascale Energy will combine of Cargill's bunker unit Pure Marine Fuels and Hafnia's Bunker Alliance, its managers tell Ship & Bunker.
21Feb

2Panama's President Orders Withdrawal of VT Group's Bunker Barge Operator Licence

President Jose Raul Mulino has said a decision to extend the licence of VT to 2029 is being cancelled.
19Feb

3Fire Contained Aboard Grimaldi Vessel in English Channel

The incident occurred while the Grande Brasile was en route from Belgium's Antwerp to Le Havre in France.
21Feb

4Global Fuel Supply Launches New Physical Bunker Supply Operation in West Africa

The company has chartered the 5,498 DWT tanker RLO Explorer to deliver fuels from Luanda anchorage in Angola.
19Feb

5Monjasa Expands to Japan

The company's new Tokyo office, with two senior traders, will be its 16th worldwide.

Asia/Pacific News

Phillips 66 Adds Fuel Oil Storage Capacity in Singapore: Report

Also in the News

Lauritzen Bulkers Sees Challenge Procuring Smaller Biofuel Blend Quantities

BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low

Imabari Shipbuilding to Invest in Daihatsu for Alternative-Fuel Engine Development

Key Bunker Prices More

Popular Now More