World News
Singapore: Vitol Acquires Sinanju Tankers Holdings, Establishes Physical Bunker Supply Operation
Vitol has established a physical bunker supply business in Singapore following the acquisition of Sinanju Tankers Holdings (Sinanju).
The acquisition includes 15 modern Singapore flagged bunker tankers, including Singapore's first and currently only LNG-powered dual fuel bunker tanker, Marine Vicky.
Sinanju's Singapore Bunkering license holding entity has been renamed Vitol Bunkers (S) Pte Ltd and from April 1, 2020 all bunker deliveries will be carried out by Vitol Bunkers (S) Pte Ltd.
Vitol Bunkers and its related companies will continue to operate as before, but under the Vitol brand, it added.
For 2019 Sinanju was Singapore's 14th largest supplier by volume.
"With the acquired entity's valuable expertise in bunker tanker operations and Vitol's existing strength on the bunker oil supply side, Vitol Bunkers will be in a strong position to provide a high quality, seamless 'end to end' delivered bunker supply service in Singapore and internationally," commented Dato' Kho Hui Meng, President and CEO of Vitol Asia.
There are currently 44 licenced bunker suppliers in Singapore.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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