Asia/Pacific News
New Player Seeks Entry to Singapore LNG Bunker Market
Probunkers has officially registered its intent to enter the Singapore LNG Bunker market, the firm said today, and has submitted a request for a supplier's licence to the Maritime and Port Authority of Singapore (MPA).
The move follows MPA last month issuing a Request for Proposals from prospective new suppliers, and saying it wants to add two more LNG suppliers to its market.
MPA issued its first LNG bunker supply licences in 2016, with FueLNG Pte Ltd and Pavilion Energy Singapore Pte Ltd the two existing LNG bunker suppliers.
Singapore is the world's largest and most tightly regulated marine fuel market with all suppliers required to hold a licence in order to operate there.
Probunkers, meanwhile, is bullish on the outlook for LNG as a marine fuel and is seeking to become the world's first independent global LNG bunker supplier, with CEO Alexander Prokopakis saying its intention to supply in Singapore is very much in line with that ambition.
"The LNG fuelled fleet is growing and we see an increasing interest from charterers and shipowners for LNG as a marine fuel," he added in comments made alongside today's announcement.
Last month Prokopakis said his firm is set to make its first order of bunkering vessels solely for LNG bunker industry within the next couple of months, and is on track to start operations in 2023.
