Asia/Pacific News
Singapore's Ocean Bunkering Services Increases Barge Fleet
Bunker company Ocean Bunkering Services (OBS) has beefed up its barge fleet serving the Singapore bunker market.
Five barges will join the company's fleet in January taking the fleet's strength to 25 vessels in total.
OBS, which is the bunkering arm of Hin Leong Group, has said the ships are scheduled to be delivered early next month, according to Reuters.
Consolidation and new operating rules have seen players exit the local bunker market.
"We see the narrowing down of industry participants as an avenue to consolidate our position and expand our reach," OBS told Reuters.
One of the new barges will be deployed to supply distillate fuels, while the remaining four are expected to supply residual fuels, the company added.
Singapore has over 200 licensed bunker barges operating in the port and there are 55 bunker suppliers and 53 bunker craft operators.
