Singapore adds Minerva Bunkering and TFG Marine to list of licensed bunker suppliers

Mercuria Holdings

21/04/2020 09:24

By Roslan Khasawneh
    SINGAPORE, April 21 (Reuters) - The Maritime and Port
Authority of Singapore (MPA), home the world's top marine
refuelling hub, said it has awarded two new bunker supplier
licences to Mercuria's Minerva Bunkering and Trafigura's TFG
Marine.
    "MPA and ESG welcome the entry of Minerva Bunkering and TFG
Marine, which will consolidate Singapore's position as the
global bunkering and oil trading hub," the MPA said in a joint
statement with Enterprise Singapore (ESG). 
    The licences are the first to be issued by the port
regulator since 2017, bringing the total number of licensed
bunker suppliers to 45 in Singapore, and come after the MPA
tightened its criteria for applicants. 
    Singapore accounts for about 20% of a global ship refuelling
market that sells tens of billions of dollars a year of fuel.
    The new requirements include commitments to obtain both
bunker supplier and bunker craft operator licences, rather than
one or both previously.
    Applicants must also own and operate at least two bunker
tankers capable of running on duel-fuels in an apparent push to
promote the use of cleaner marine fuels. 
    In addition to increasing the supply of low-sulphur fuels
that comply with the International Maritime Organization's 2020
sulphur regulations, "Minerva Bunkering and TFG Marine will also
be required to each operate at least two clean energy
dual-fuelled bunker barges," said the statement. 
    "This will help drive more sustainable bunkering activities
in the Port of Singapore." 
    Reuters in February reported that several companies,
including Mercuria and Trafigura, had applied for licences to
supply marine fuel to ships in Singapore.  urn:newsml:reuters.com:*:nL4N29J2KJ
    Tough market conditions and a crackdown on industry
malpractice have seen the pool of suppliers in Singapore shrink
in recent years, with mostly smaller players exiting.
 urn:newsml:reuters.com:*:nL4N29X1KR  urn:newsml:reuters.com:*:nL4N28J28H  urn:newsml:reuters.com:*:nL3N2813OY
    TFG Marine is a marine fuels supply and procurement joint
venture, between physical commodity trading company Trafigura
Group Pte and ship owning companies Frontline Ltd and Golden
Ocean Group Ltd with a combined fleet of about 700 owned and
chartered vessels, according to Trafigura's website. 
    Minerva Bunkering, a fully owned subsidiary of Marcuria
Energy Group, in March 2019 took over Aegean Marine Petroleum
Network Inc after the company applied for Chapter 11.
 urn:newsml:reuters.com:*:nL8N21E1JO  urn:newsml:reuters.com:*:nFWN21M06S
    



    
    

 (Reporting by Roslan Khasawneh, editing by Louise Heavens)
 ((roslan.khasawneh@thomsonreuters.com; +65 6870 3121; Reuters
Messaging: roslan.khasawneh.thomsonreuters.com@reuters.net))