Asia/Pacific News
Toyota Tsusho Departure Takes Singapore Supplier List Down to 41 Firms
Marine fuel supplier Toyota Tsusho Petroleum Pte Ltd has dropped off Singapore's list of its accredited suppliers, taking the total number of firms delivering marine fuel at the world's largest bunkering hub to 41.
The city-state's Maritime and Port Authority (MPA) removed Toyota Tsusho in an update to its list published earlier this month.
The firm first obtained its MPA licence in May 2008, operating then as Tomen Toyota Tsusho Petroleum (Singapore) Pte Ltd.
The company is understood to have advised customers early this year that it is being shut down and replaced by a new firm, Toyota Tsusho Marine Fuels Corporation, which was incorporated in December 2022. The new firm will be focused on marine fuel trading worldwide, with a particular interest in alternative fuels.
The company's sales appear to have peaked in 2018, when it was listed by the MPA as Singapore's eighth-largest supplier by volume out of a list of 51 companies. Sales have declined since then, and by last year the company was listed as the 29th-largest out of 42.
Toyota Tsusho's departure takes Singapore's number of licensed bunker suppliers down to 41. The total had grown to 42 suppliers in June 2022 as Sinopec Fuel Oil (Singapore) Pte Ltd joined the market.
The total was as high as 73 in 2012.
