Asia/Pacific News
Minerva Reaches MPA's Singapore Bunker Volume Targets
Marine fuel supplier Minerva Bunkering has reached the Singapore sales-volume targets set by the Maritime and Port Authority (MPA) as a condition of its winning a licence to operate in the city-state's waters.
Minerva was awarded its bunker supplier's licence by the MPA in April 2020.
"We've been pleased with how our volumes have progressed," price reporting agency S&P Global Platts cited Tyler Baron, CEO of Minerva, as saying in an interview this week.
"We made certain projected volume commitments to the Maritime and Port Authority of Singapore as part of obtaining our license and we've exceeded those commitments."
Minerva was Singapore's 22nd-largest supplier by volume last year, according to the MPA's annual list. TFG Marine, which received its licence at the same time as Minerva, was placed a few notches higher at 16th, implying it also reached the MPA's volume requirements.
Minerva now has five barges operating in Singapore, and will within the next two weeks be receiving a tanker it has bought to act as floating storage in the area, Platts cited Baron as saying.
