Asia/Pacific News
SIBCON 2024: Vitol Expects to Win Singapore LNG Bunker Supply Licence
Global commodity trading firm Vitol is expecting to receive a licence to supply LNG as a bunker fuel in Singapore after taking on three delivery vessels earlier this year.
The company announced in July that it had ordered one 12,500 m3 LNG bunker delivery vessel and a 20,000 m3 one from CIMC Sinopacific Offshore & Engineering in China, and chartered a new 20,000 m3 one from Avenir LNG.
The firm wants at least one of these vessels to be deployed in Singapore, Mike Muller, CEO of Vitol Asia, told Ship & Bunker on the sidelines of the Sibcon industry event in Singapore on Wednesday.
"We're definitely expecting to be granted a LNG bunker license in Singapore, as it would be unthinkable not to deploy at least one of the three barges we've ordered here," Muller saiid.
"That's something that's very much on the horizon very, very soon."
Muller added that he expected to see growth in LNG use as a bunker fuel for at least another decade, and probably for a longer period.
