Sing Fuels Reports 20% Bunker Volumes Growth in 2020-21

by Ship & Bunker News Team
Friday November 5, 2021

Trading firm Sing Fuels saw its bunker sales volumes grow by 20% in the 2020-21 financial year.

The company saw revenues climb by 45% and its marine fuel sales volumes jump by 20% in the 12 months to September 30 from the same period a year earlier, price reporting agency S&P Global Platts reported this week, citing comments from Sonnich Thomsen, the firm's managing director for bunkers.

The company has not revealed the outright totals for its revenues or volumes. But in the Financial Times list of Asia-Pacific high-growth companies for 2021, the firm's revenues for the 2019 calendar year were noted at $418.72 million.

The firm is considering an expansion in Europe and the hiring of more staff in the Americas, Thomsen was cited as saying.