Asia/Pacific News
Bunker Supplier Equatorial Marine Mulls Expanding Floating Storage in Singapore
Singapore-based marine fuels supplier Equatorial Marine Fuel Management Services is looking at expanding its floating storage capacity in the region, according to price reporting agency S&P Global Platts.
The company owns three VLCCs, currently deploying two of them as floating storage in west Johor, and is 'inclined to' repurpose the third for the same purpose, Platts reported Friday, citing an interview with Executive Director Choong Zhen Mao.
That would take its floating storage capacity up to about 1 million m3.
Equatorial Marine accounts for about 9-10% of Singapore's total marine fuel sales volume, with 19 bunker barges, Platts cited Choong as saying.
Equatorial Marine was listed as Singapore's fourth-largest bunker supplier by volume in both 2018 and 2019.
