Asia/Pacific News
Fratelli: Singapore Fuelling Global Bunker Sales
Bunker company Fratelli Cosulich recorded 5.7 million metric tonnes (mt) in global bunker sales in 2017, up by a fifth on the previous year's total of 4.7 million mt.
While all the company's offices have "performed well", Singapore has led the way, CEO of the Fratelli Cosulich Group of Companies, Timothy Cosulich, tells Ship & Bunker
"We expect a steady 5% growth globally for 2018," Cosulich said. "Most of this will come from Singapore where we are growing very fast," he added.
Cosulich links his company's growing volumes in Singapore to the introduction of mandatory use of mass flow meters (MFM) in the port.
"With all the suppliers [in Singapore] playing by the same rules, our prices are no longer $10-15/mt higher than other players."
But the company's strong position is not just based on the level playing field ushered in by MFM which have been in place in the Southeast Asian bunkering hub since the start of last year.
"In the last 10 years, we've made sure that we are seen as a company with integrity.
"That stance is now paying off since clients realise they are better off with a honest and reliable supplier," Cosulich said.
His words are poignant. MFM are a key plank in the port authorities' policy to improve the reputation of Singapore as a bunkering destination. They have been welcomed by most players and the authorities have come down hard on bunker companies caught infringing the rules.
